Catastrophic risks and mitigation measures around the world

UNCW Author/Contributor (non-UNCW co-authors, if there are any, appear on document)
Darren R. Prevatte (Creator)
Institution
The University of North Carolina Wilmington (UNCW )
Web Site: http://library.uncw.edu/
Advisor
Edward Graham

Abstract: Much attention is being paid to the topic of natural disasters with recent floods in Iowa, the deadly Sichuan Earthquake in China, and the horrendous Cyclone Nargis in Myanmar. This study takes a look at emergency responses to natural disasters around the world and their financial impacts on the affected economies. I focus on previous studies which bring to the forefront the need for a restructuring of the insurance industry to better mitigate for and minimize catastrophic losses from major natural disasters. These studies are reviewed and compiled in order to uncover the most costeffective and efficient ways to reduce catastrophic losses. This study intends to explore the facts of five recent catastrophic events which include the disastrous Hurricane Katrina in 2005 that devastated New Orleans, the 2008 Cyclone Nargis in Myanmar, the 2008 Sichuan Earthquake in China, the Indonesian tsunami in 2004, and the 2008 Iowa/Midwest floods. These five disasters will be examined to reveal differences in preparation and responses by all parties involved. The purpose of this study is to demonstrate the need for government policies and strategies, as well as revamped mitigation measures around the world, to better cope with natural disasters. A comparison of the governmental failures in the disasters of Hurricane Katrina in the United States and Cyclone Nargis in Maynamar with the successes in governmental responses to the recent Iowa floods and the Sichuan Earthquake in China will be presented to provide case studies for review.

Additional Information

Publication
Thesis
A Thesis Submitted to the University of North Carolina Wilmington in Partial Fulfillment of the Requirements for the Degree of Masters of Business Administration
Language: English
Date: 2009
Keywords
Natural disasters--Economic aspects, Natural disasters--Government policy, Communication in organizations, Natural disasters--Finance, Natural disasters--Planning
Subjects
Communication in organizations
Natural disasters -- Economic aspects
Natural disasters -- Planning
Natural disasters -- Finance
Natural disasters -- Government policy