The 1953 flood disaster prompted a new approach to the design of dikes and other water-retaining structures, based on an acceptable probability of overflowing. Risk is defined as the product of probability and consequences. The potential damage in lives, property, and rebuilding costs is compared with the potential cost of water defences. From these calculations follows an acceptable flood risk from the sea at one in 4,000–10,000 years, while it is one in 100–2,500 years for a river flood. The particular established policy guides the Dutch government to improve flood defences as new data on threat levels become available.