Keeping an eye on natural hazards: Lessons learned to become more resilient
The number of disasters and their magnitude are growing at an unprecedented rate. While there has been a decline in disaster mortality (in relative terms) over the last decade, in most places there has not been significant success in halting the substantial increase in economic losses. This results in profound knock-on effects to economic growth and development as well as to the general well-being of society. Learning from past events in a systematic and deep manner is highly relevant. This paper, the latest update in our series, addresses compound risks and explains why a multiple-risk radar is more important than ever. It provides a glimpse of our first wildfire reviews and updates our extensive series of post-flood studies.
The COVID-19 crisis is another reminder that we need to constantly update our risk radar and reflect on what’s changed or is about to change and how we can better recognize the early indicators in order to prevent, prepare for and respond to an event.
Zurich Insurance Group
Zurich Insurance Company
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