Traditional ways of talking about flood risk are increasingly unstable

Our traditional way of talking about flood and inundation risk (as a 1 in 50 or 1 in 100 year event) is going to get really confusing as climate change alters the frequency and intensity of rainfall events, and sea level rise changes the impacts associated with these events.

Is there another way of setting levels of service for managing flood risk in asset management plans that doesn't refer to 1:50 or 1:100 year events?