GEO 104 Lecture Notes - Lecture 7: Piracy In The Strait Of Hormuz, Moral Hazard, Wave Height
18 Oct 2017
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Fema:an ounce of prevention goes a long way. The causes of fatalities by type of event 1970-2008. Majority of costs from natural disasters are payed for by disaster relief than insurance in bigger countries. Hard to know the magnitude of potential loss is. One doesn"t know even with the data that is available if taking out insurance is worth it. You never really know how to prepare for natural disasters because no one can know the magnitude of the potential loss and how much insurance money they should take out. Almost always lead to under insurance (even in heavily insured us, insurance in hurricane katrina covered only close to 46 billion of the overall 18 billion in losses) Alot of probabilities maps go back 100 to 200 years of natural disasters. With constant climate change, its hard to reasonably estimate future events with historical records.
