How costly are natural hazards? Experts link cost assessment with risk management
Sunday, April 27, 2014 - 18:00
in Earth & Climate
Costs of natural hazards are at historically high levels, and show an increasing trend. Cost assessments of natural hazards often only cover direct costs and even these are assumed to be at least 50% higher than international assessments report. However, besides direct damage, also indirect damage is relevant. For example, the Thailand flood in 2011 shut down scores of factories and damaged global car manufacturing and electronics industries.