Key stakeholders in the management of natural catastrophes

Abstract

This article discusses the problem of catastrophes due to natural hazards, illustrates the key stakeholders affected by natural disasters, and analyzes their role in managing such risks. The consequences of natural hazards have been devastating both for properties and lives but little can be done to affect the increasing frequency and severity of catastrophic losses. Hopefully, there are a few ways to absorb the financial distress that comes after the attack of a catastrophic event. To this direction, all stakeholders from property owners to Public Officials should take some action proactively by engaging all available risk management methods.

JEL Classification: G22