Assessing the Costs of Natural Hazards - State of the Art and the Way Forward

Volker Meyer, Reimund Schwarze, Nina Becker, Vasileios Markantonis, Jeroen C.J.M. van den Bergh, Laurens M. Bouwer, Philip Bubeck, Paolo Ciavola, Elisabetta Genovese, Colin Green, Stephane Hallegatte, Heidi Kreibich, Quentin Lequeux, Ivana Logar, Elissaios Papyrakis, Clemens Pfurtscheller, Jennifer Poussin, Valentin Przyluski, Annegret H. Thieken, Christophe Viavattene

Research output: Chapter in BookChapterResearchpeer-review

2 Citations (Scopus)

Abstract

© 2015 by John Wiley & Sons, Ltd. All rights reserved. The costs of natural hazards around the world are rising. While the number of events reported in the last 10 years has decreased slightly, the number of affected people and their related costs is increasing, indicating also an augmented exposure and vulnerability of humankind to natural hazards. In this chapter, a review of existing methods for cost assessment is carried out for each natural hazard (floods, droughts, coastal hazards and Alpine hazards) and cost category (direct costs, business interruption costs, indirect costs, intangible costs and risk mitigation costs). The chapter aims to synthesise the overall findings and conclusions based on various reviews. It presents the main findings concerning current best practices, based on the literature review and expert workshops. The chapter presents overall knowledge gaps and recommendations for practice and research, and addresses the way forward by depicting a vision on integrated cost assessment and risk management.
Original languageEnglish
Title of host publicationHydrometeorological Hazards: Interfacing Science and Policy
Pages253-290
Number of pages37
Volume9781118629574
DOIs
Publication statusPublished - 31 Dec 2014

Keywords

  • Cost assessment
  • Natural hazards
  • Risk management

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