This year has been particularly negative with respects to natural disasters and the humongous related impacts that obtrudes the lives and livelihoods of the communities affected. Considering we are only a couple of months into the year, the number of catastrophes that have struck various countries around the world is quite astonishing.
To list a few disasters alone, we saw Queensland which is normally a drought suffering state of Australia inundated with so much rain that mass flash flooding ensued, Christchurch was flattened by an earthquake on 22nd of February and only two days ago Japan suffered the fifth largest earthquake since 1900, along with a devastating tsunami where the estimated damage and loss is still unknown.
From the risk perspective of disaster management, this article investigates methods for predicting catastrophes and their associated loss.
We will also be following up with a second blog posting on how to cover the fiscal loss value from disasters by using financially structured products.
You can read more by following this link
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