Natural Disasters

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Assignment 1 Natural disasters in Australia Natural disasters are events that occur naturally such as earthquakes, cyclones, Storms, and floods. These kinds of disasters can cause significant physical damage, interruption of business services and personal injury/loss of life. Due to the effects of global warming and consequential climate change the rate of natural disasters in Australia is increasing day by day. I myself have faced such kind of natural disaster in Pakistan in the year 2012 which was a flood. So I can relate and describe how painful and how bad economically these disasters can be; destroying each and everything coming in its way. There are two types of…show more content…
It 's also Australia 's worst natural disaster in 110 years which so far has claimed 131 lives. If we analyze the currently available data then we come up with a statement that total cost of natural disasters in Australia between the years 1967 and 1999 is approximately $36.4 billion, which is easy to say and hard to believe. If we integrate deaths and injuries into this data then the total cost increases to $37.8 billion or approximately $85 per person compared to prices in 1999. This estimation brings to an average annual total cost of natural disasters to $1.14 billion since 1967 or $1.17 since 1980 and $1.51 billion prices are subjected to year 1999. An organization called “The Natural disaster Relief and Recover Arrangements (NDRRA) is an organization that provides Commonwealth and States which share costs in rebuilding the assets of states that are damaged by the natural disaster. By which the states are able to get a little part of the total cost from the Common wealth used in reconstructing state government assets. Every state in Australia has some self-insurance or some form of managed fund which helps in insuring states assets. It is recommended by many that the formula used under “The Natural Disaster Relief and Recovery Arrangements” should be changed to expenditure method before the State or Territory gets any insurance recovery. Natural disasters cause so much heavy burden on the economy of Australia that at some stage it
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