It is not just natural disasters that pose a risk to society and the economy. As a matter of fact, small scale weather events, such as severe rainfall and periods of snowmelt, are responsible for the majority (60%) of global insured losses. Anticipating such episodes and the chain of events that leads to adverse impacts is a challenging endeavour. Current statistical models exhibit substantial limitations, they fail to explain the weather dynamics leading to property losses. The research thus aims to develop a new methodology that will better evaluate the risks induced by such weather events on a much more detailed regional level.