Insurance and Financial Market Issues Related to the Management of Large-Scale Disaster [E-Book] / Organisation for Economic Co-operation and Development
Paris : OECD Publishing, 2004
14 p.
Finance and Investment
Full Text
The last few years have witnessed a number of large-scale disasters, both man-made, such as the terrorist attacks of 11 September 2001, and natural, such as the tropical storm Allison in 2001 in the US, the extensive flooding in large parts of Europe in summer 2002, the May 2003 earthquake in Algeria or the appearance of previously unknown infectious diseases. Both the frequency of such disasters and the magnitude of losses involved have tended to increase. This evolution brought home to OECD governments the realisation that risks of very large disasters or "mega-risks" have the potential for inflicting considerable damage on the vital systems and infrastructures upon which our societies and economies depend...