Traditionally, the focus in most economies has been on direct impacts from natural disasters, such as property losses. However, governments and other agencies need to understand not just the direct damage from large-scale natural disaster events but also, importantly, indirect losses in other parts of the economy, such as output losses.
Decision makers and their advisors need methodologies to determine these broader impacts in order to reduce welfare losses and speed up the recovery process.
Risk Frontiers has strong experience working with government to design methodologies that bridge the gap between the traditional direct losses approach and the broader economic losses that are experienced. These approaches also enable mitigation options to be prioritised.
Please contact us for further information on how Risk Frontiers can help model direct and indirect economic risk.