Insurance is a very important factor to attaining financial viability in an economy. It is a very

exposure. All municipal activities should be evaluated and facilities inspected. Court decisions and legislation that affect municipalities must be reviewed. Insurance and risk management publications should be studied for the latest information on loss avoidance. Attending courses on risk management may prove beneficial.The importance of the human element cannot be overemphasized when identifying risks. Asking employees and supervisors for their input because they are in the best position to identify risks. It is important to communicate with people in other municipalities who are involved in risk management that might have faced and solved a similar problem in the past.Obviously, a great amount of guesswork is involved in risk identification, and some potential losses may be overlooked. However, by making a conscientious effort, the most common losses can be reduced or perhaps totally avoided (Marcus, 1986).

Natural disaster threats accompany people practically everywhere and often people are unaware of the fact that one day the disaster may strike and change their life drastically, such as the ones that can occur in Huskietown. In such a situation, it is important to get prepared for potential disasters and know how to act and behave in different situations. To make it clearer, it is necessary to have a clear plan of action in case of a disaster and, what is not less important, it is necessary to clearly understand what real natural disasters can really occur in the given area. In such a way, it is obvious that in order to come prepared to a disaster it is necessary to know as much information about the disaster itself, its effects

People living in the wildland urban interface area need to consider the impact of risk toward their choice. The involvement of first responders affected by emergency services in and around wildland urban interface areas is a major concern. The impacting loss covered by insurance is reaches into rather large sums over just a decade of time even.

With the current changes in weather patterns, strange climatic conditions and other uncontrollable natural disasters, there has been a lot of attention directed towards the mitigation of the negative effects such natural disasters can have on man and the society at large.

Hazard Analysis: A hazard analysis of the city of New York was determined depending on several risk factor values that included the duration, warning time, spatial extent, probability, and impact. The greater risk was determined by a higher risk factor. Some of the human-caused, natural, and technological hazards recorded included landslides, wild fires, earthquakes, canal failure, dams, landslides, drought, volcanic eruptions, the wind, tornadoes, lightning, severe storms, civil disturbances, cyber disruptions, radiological and hazardous material (Hoffman,

Both human and economic cost of global hazards are increasing over time due to one reason, this reason is that global hazards are more frequent in the present day. Global hazards can be split into to groups hydrometeological or geophysical. Geophysical events have occurred at constant frequency throughout the ages as they are formed by tectonic or geological processes, which can’t be affected by human factors, an example of this type of event is an Earthquake or volcano. Where as on the other hand hydrometeological hazards are increasing as they are formed by hydrological or atmospheric processes, which are affected by human factors such as global warming, an example of this type of event, is a Flood or hurricane.

Further, analyze and understand the adequacy of the measures taken to adapt future climate change induced hazard risks. I have developed my capacity by doing the Masters’ Degrees in Disaster Management and Emergency Management with a research work.

Imagine living your life on a regular day for you and BOOM! Your life is now suddenly completely changed, everything you thought was normal or part of you has changed. This is what natural disasters tend to make happen in your life, they affect us in many ways. In this essay i will discuss the various elements each author uses to express the causes and effects of disasters. The author Jacqueline Adam clearly expresses the causes and effects of disasters through the use of text structure, choice of vocabulary and use of data and details.

Actuaries have many duties they analyze and measure uncertainty and both cost of risk. They heavily use statistics, financial theory, and mathematics to determine the risk that an event will happen and or occur; as a result, testing , designing , and testing is a included. In addition, they give a hand in clients and businesses developed policies which minimizes the cost of a risk. Actuarial work with insurance industries and are indeed essential.

Importantly, the first-party insurance system which is in existence in some US states, would introduce personal autonomy, individual responsibility and a choice, therefore people would assume responsibility for their own misfortunes prior to when it happened. Importantly, the first-party insurance system which is in existence in some US states, would introduce personal autonomy, individual responsibility and a choice, therefore people would assume responsibility for their own misfortunes prior to when it happened. Importantly, the first-party insurance system which is in existence in some US states, would introduce personal autonomy, individual responsibility and a choice, therefore people would assume responsibility for their own misfortunes

Data obtained by assessing social vulnerability must be implemented within each phase of the emergency management process; mitigation, response, and recovery. First, to effectively respond and recover from incidents emergency management agencies must concentrate on the mitigation phase to prevent incidents from happening in the first place. This is achieved through a thorough hazard/vulnerability analysis (HVA). This type of analysis assesses the risk of physical, economic, and social vulnerability within all communities of a given jurisdiction (Lindell et al., 2006, p. 165). Additionally, the basis of the HVA allows emergency managers to effectively plan for disaster by creating pre-planned responses to disasters (rather than improvised response) and staging resources to locations with the highest probability of risk; ultimately contributing to the mitigation and response phases.

Due to diverse geo-climatic conditions prevalent in different parts of the globe, different types of natural disasters like floods, droughts, earthquakes, cyclones, landslides, and volcanoes etc may strike according to the vulnerability of the area.

While natural disasters such as floods, drought and hurricanes are commonly thought to occur due to environmental forces such as weather, climate and tectonic movements; a deeper investigation into the ‘disaster’ displays other contributing forces. Human factors have a large, if not equal, contribution to the occurrance and outcome of such disasters (Pelling, 2001). As Pelling (2001) argues, there is both a physical and human dimension to ‘natural disasters’. The extent to which the natural occurrence of a physical process, such as a flood or earthquake, impacts on society is constructed by that society, creating a ‘disaster’ as measured by a

In today’s world insurance plays a critical part in almost everything we do in society. So isn’t a surprise that insurance plays a huge part in a countries economy. In simple terms insurance allows people to participate in the economy by letting them produce goods and services without the fear of an event or action that would leave them destitute or unable to keep doing business. On a less known level insurance also affects the economy of starts and local economies. In addition to this one way, the insurance industry supports the economy is by being an employer. In the United States this industry employers more than 2.5 million jobs varying in position and function. (Insurance Information Institute) Furthermore, the insurance companies support the economy with their investments. By collecting funds and acting as intermediaries for providing insurance protection these companies have $5.1 trillion in assets which could be broken up into $1.5 trillion for property/casualty and $3.6 trillion for the life sector. (Insurance Information Institute) As for the gross domestic product, the insurance industry’s has contributed $421 billion in 2013. (Insurance Information Institute)

Risk management is an activity which integrates recognition of risk, risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources. Some traditional risk managements are focused on risks stemming from physical or legal causes (e.g. natural disasters or fires, accidents, death). Financial risk management, on the other hand, focuses on risks that can be managed using traded financial instruments. Objective of risk management is