The purpose of this work is to theoretically substantiate and develop practical recommendations for the formation of a regional mechanism for economic assessment and compensation of socio-economic damage from floods on the northern rivers of the Sakha Republic. To achieve this goal, the causes of floods in Yakutia will be analyzed, and an analysis will be made of the degree of risk of flooding in populated areas in the northern regions of the region and the likelihood of damage from river floods. Research questions about a phenomenon such as flooding will be directly related to the concepts of hazard, vulnerability and natural risk. The danger is determined by the complex of natural conditions of the territories, on which the likelihood of the development of a dangerous phenomenon and its intensity depends.