scholarly journals Implementation of Blockchain Technology in Insurance Contracts Against Natural Hazards: A Methodological Multi-Disciplinary Approach

2019 ◽  
Vol 23 (3) ◽  
pp. 211-229
Author(s):  
Andrea Jonathan Pagano ◽  
Francesco Romagnoli ◽  
Emanuele Vannucci
Keyword(s):  
Risk Management ◽  
Natural Hazards ◽  
Risk Mitigation ◽  
Community Resilience ◽  
Disaster Risk ◽  
Quantitative Model ◽  
Mitigation Measures ◽  
Blockchain Technology ◽  
Risk Insurance ◽  
The Impact

Abstract Risk insurance for disasters plays a relevant part in the implementation of risk reduction strategies during the pre-disaster phase. This is essential to support risk management towards decreasing the marginal risk allowing policy holders to transfer risk to avoid considerable financial loads from the costs incurred during the recovery phase in a post-disaster phase. There is evidence that the introduction of an integrated risk insurance strategy for community resilience planning is still lacking. Thus, this undermines the possibility to have proper optimized holistic risk management; on the one hand this strengthens pre-disaster risk mitigation measures, mostly relying on mitigative infrastructural solutions, and on the other hand it better defines risk prevention strategies mostly connected to land planning and urban development. This paper will show how insurance markets can play a key role towards mitigating the economic consequences of natural and climate change disasters, and how essential it is to better quantify the beneficial effects and costs of engineer-based mitigative solutions. In this context, the legal framework into which the actuarial quantitative model can be implemented will support the creation of an integrated multidisciplinary approach with potential implementation on a novel platform capable of collecting and processing information from different sources and dimensions such as blockchain technology. The scientific community is, in fact, increasingly interested in implementing blockchain technology to overcome problems linked to the contractual dimension of natural disaster risk insurance which can be interpreted as a sort of smart contracting. Through a study that involved four distinct areas, namely: law, environmental engineering, insurance and IT, this paper proposes a specific multidisciplinary methodology to achieve the drafting and implementation of a digital insurance contract on a blockchain platform against natural hazards. This paper proposes the basis to advance a quantitative concept to optimize the impact of catastrophe risk insurance onto the community resilience; in fact providing a key synergy for definition of pre-disaster conditions.

scholarly journals Disaster Risk Management Through the DesignSafe Cyberinfrastructure

2020 ◽  
Vol 11 (6) ◽  
pp. 719-734
Author(s):  
Jean-Paul Pinelli ◽  
Maria Esteva ◽  
Ellen M. Rathje ◽  
David Roueche ◽  
Scott J. Brandenberg ◽  
...  
Keyword(s):  
Risk Management ◽  
Natural Hazards ◽  
High Performance ◽  
Community Outreach ◽  
Disaster Risk ◽  
Soil Liquefaction ◽  
Disaster Risk Management ◽  
Risk Modeling ◽  
Regional Risk Assessment ◽  
The Impact

AbstractDesignSafe addresses the challenges of supporting integrative data-driven research in natural hazards engineering. It is an end-to-end data management, communications, and analysis platform where users collect, generate, analyze, curate, and publish large data sets from a variety of sources, including experiments, simulations, field research, and post-disaster reconnaissance. DesignSafe achieves key objectives through: (1) integration with high performance and cloud-computing resources to support the computational needs of the regional risk assessment community; (2) the possibility to curate and publish diverse data structures emphasizing relationships and understandability; and (3) facilitation of real time communications during natural hazards events and disasters for data and information sharing. The resultant services and tools shorten data cycles for resiliency evaluation, risk modeling validation, and forensic studies. This article illustrates salient features of the cyberinfrastructure. It summarizes its design principles, architecture, and functionalities. The focus is on case studies to show the impact of DesignSafe on the disaster risk community. The Next Generation Liquefaction project collects and standardizes case histories of earthquake-induced soil liquefaction into a relational database—DesignSafe—to permit users to interact with the data. Researchers can correlate in DesignSafe building dynamic characteristics based on data from building sensors, with observed damage based on ground motion measurements. Reconnaissance groups upload, curate, and publish wind, seismic, and coastal damage data they gather during field reconnaissance missions, so these datasets are available shortly after a disaster. As a part of the education and community outreach efforts of DesignSafe, training materials and collaboration space are also offered to the disaster risk management community.

scholarly journals ANALYSIS OF THE RISK MANAGEMENT SYSTEM OF AIRLINE

2021 ◽  
Author(s):  
Tamara Oleshko ◽  
Nataliia Popyk ◽  
Yana Osypova
Keyword(s):  
Risk Management ◽  
Management System ◽  
Risk Mitigation ◽  
Mitigation Measures ◽  
Civil Aviation ◽  
Aviation Industry ◽  
Term Survival ◽  
Risk Management System ◽  
The World ◽  
The Impact

Risks are an integral part of any company. Not all types of risk can be identified, not all risk mitigation measures are cost-effective. Risk and the cost of avoiding it in aviation require rational decision-making mechanisms. There are many different risks in any airline as an aircraft operator, carrier and business entity. One of the main tasks of airlines is to minimize them. The article examines the risks that arise in the process of airlines and analyzes the risk management system in airlines. The impact of the pandemic on the aviation industry of Ukraine has been studied. The aviation industry both in Ukraine and in the world plays an important role, its importance in the world economy is constantly growing. This is facilitated by both technological development and the latest developments in the aviation industry, as well as globalization. However, at the same time, the number of risks is increasing, they are becoming more complex and diverse. Therefore, the task of risk management is relevant. Today, the risk management system of any airline is an urgent need, because the competitiveness and success of the airline is inextricably linked to risks. The activities of modern commercial enterprises, including civil aviation enterprises, are aimed at the formation of sustainable competitiveness and long-term survival. There are hundreds of airlines in the world, including 55 in Ukraine. Today, civil aviation in the world is in crisis. Ukrainian aviation is no exception. The closure of state borders and other measures taken in many countries to combat the spread of the coronavirus have led to a catastrophic reduction in air traffic. As a result, airlines were forced to reduce the frequency or cancel the vast majority of flights. All participants in the aviation market suffer from this situation. The development of a risk management system in the airline should be an integral part of its targeted management. The structure of risks faced by the airline is very complex and diverse. Risk is the residual probability of an event with significant consequences after considering mitigation measures.

scholarly journals Quantifying the effectiveness of early warning systems for natural hazards

2016 ◽  
Vol 16 (1) ◽  
pp. 149-166 ◽  
Author(s):  
M. Sättele ◽  
M. Bründl ◽  
D. Straub
Keyword(s):  
Natural Hazards ◽  
Early Warning ◽  
Risk Mitigation ◽  
Early Warning Systems ◽  
Mitigation Measures ◽  
Management Approach ◽  
Warning Systems ◽  
Integrated Risk ◽  
Framework Approach

Abstract. Early warning systems (EWSs) are increasingly applied as preventive measures within an integrated risk management approach for natural hazards. At present, common standards and detailed guidelines for the evaluation of their effectiveness are lacking. To support decision-makers in the identification of optimal risk mitigation measures, a three-step framework approach for the evaluation of EWSs is presented. The effectiveness is calculated in function of the technical and the inherent reliability of the EWS. The framework is applicable to automated and non-automated EWSs and combinations thereof. To address the specifics and needs of a wide variety of EWS designs, a classification of EWSs is provided, which focuses on the degree of automations encountered in varying EWSs. The framework and its implementation are illustrated through a series of example applications of EWS in an alpine environment.

scholarly journals Diagnóstico da Exposição aos Riscos de Movimento de Massa e Alagamento em Comunidades do Município de Alagoa Nova, Paraíba / Brasil

2020 ◽  
Vol 12 (7) ◽  
pp. 2537
Author(s):  
Caroline Barros de Sales ◽  
Lutiane Queiroz de Almeida
Keyword(s):  
Risk Management ◽  
Data Collection ◽  
Social Vulnerability ◽  
Risk Mitigation ◽  
Mass Movement ◽  
Secondary Data ◽  
Disaster Risk ◽  
Civil Defense ◽  
Mass Movements ◽  
Two Stages

Os territórios de riscos de desastres são considerados, por diversos especialistas, resultados da associação entre exposição aos perigos naturais do ambiente, condições de vulnerabilidade social e entre as vulnerabilidades intrínsecas à Gestão de Riscos de Desastres. Tais territórios podem e estão sendo objetos de estudo de pesquisadores de diferentes áreas do conhecimento, inclusive da Geografia. O presente trabalho tem como objetivo caracterizar a exposição de comunidades do município de Alagoa Nova - PB aos riscos de movimentos de massa e alagamento. A metodologia está dividida em duas etapas, as quais possuem, em comum, os seguintes procedimentos: levantamento bibliográfico, levantamento de dados secundários, elaboração cartográfica, atividades de campo e diálogo com representante da Defesa Civil Municipal. Coloca-se como relevante à medida que os seus resultados conseguem apontar os fatores que devem ser priorizados pela Defesa Civil Municipal e por outras secretarias municipais para uma efetiva mitigação dos riscos nas comunidades. Diagnostic of Exposure to Risks of Mass Movement and Flooding in Communities of the Municipality of Alagoa Nova, Paraíba / BrazilA B S T R A C TDisaster risk territories are considered by various experts to be the result of the association between exposure to natural environmental hazards, conditions of social vulnerability, and intrinsic vulnerabilities to Disaster Risk Management. These territories can and are being studied by researchers from different areas of knowledge, including geography. The present work aims to characterize the exposure of communities in the municipality of Alagoa Nova - PB to the risks of mass movements and flooding. The methodology is divided into two stages, which have in common the following procedures: bibliographic research, secondary data collection, cartographic elaboration, field activities and dialogue with the Municipal Civil Defense representative. The work is considered relevant because its results can point out the factors that must be prioritized by the Municipal Civil Defense and other municipal secretariats for an effective risk mitigation in the communities.Keywords: Exposure factors; Risk; Disaster; Management

scholarly journals Quantifying the effectiveness of early warning systems for natural hazards

2015 ◽  
Vol 3 (7) ◽  
pp. 4479-4526 ◽  
Author(s):  
M. Sättele ◽  
M. Bründl ◽  
D. Straub
Keyword(s):  
Natural Hazards ◽  
Early Warning ◽  
Risk Mitigation ◽  
Early Warning Systems ◽  
Mitigation Measures ◽  
Management Approach ◽  
Warning Systems ◽  
Integrated Risk ◽  
Framework Approach

Abstract. Early warning systems (EWS) are increasingly applied as preventive measures within an integrated risk management approach for natural hazards. At present, common standards and detailed guidelines for the evaluation of their effectiveness are lacking. To support decision-makers in the identification of optimal risk mitigation measures, a three-step framework approach for the evaluation of EWS is presented. The effectiveness is calculated in function of the technical and the inherent reliability of the EWS. The framework is applicable to automated and non-automated EWS and combinations thereof. To address the specifics and needs of a wide variety of EWS designs, a classification of EWS is provided, which focuses on the degree of automations encountered in varying EWS. The framework and its implementation are illustrated through a series of example applications of EWS in an alpine environment.

FRAMEWORK FOR PLANNING CAPACITIES TO MAXIMIZE THE FEASIBLE RESILIENCE OF NETWORK INFRASTRUCTURE SYSTEMS

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Arkaprabha Bhattacharyya ◽  
Makarand Hastak
Keyword(s):  
Risk Mitigation ◽  
Disaster Risk ◽  
Decision Makers ◽  
Network System ◽  
System Building ◽  
Recovery Capacity ◽  
Infrastructure Network ◽  
Natural Disaster Risk ◽  
The Impact ◽  
Post Disaster

Infrastructures are connected between themselves and their connections form a complex network. Disaster impacted infrastructures have a reduced level of serviceability. The impact of the reduction of serviceability of disaster-affected infrastructures cascades through the entire infrastructure network. The recovery capacity of the network governs the recovery curve of a disaster-impacted infrastructure network system. Moreover, the speed of recovery of the infrastructure network from a post-disaster condition to the pre-disaster condition dictates the resilience of the system. Building these capacities requires spending money. The extent of resilience that can be afforded under a given budget situation is termed as the feasible resilience. This paper presents a framework for planning the capacities so that the feasible resilience of the network can be maximized under a budget situation. To achieve the said objective, the recovery time of a disaster-affected infrastructure network has been minimized. The outcome is the optimal restorative capacities the network needs to have so that the feasible resilience is maximized under a specified budget condition. The outcomes can be used by the decision-makers in natural disaster risk mitigation planning.

scholarly journals Coastal community resilience frameworks for disaster risk management

2020 ◽  
Vol 101 (2) ◽  
pp. 595-630 ◽  
Author(s):  
Arif Almutairi ◽  
Monjur Mourshed ◽  
Raed Fawzi Mohammed Ameen
Keyword(s):  
Risk Management ◽  
Community Resilience ◽  
Disaster Risk ◽  
Disaster Risk Management ◽  
Coastal Community

Credit Risk Management of Commercial Banks in Nepal

2019 ◽  
Vol 4 (1) ◽  
pp. 27-37
Author(s):  
Shreya Pradhan ◽  
Ajay K. Shah
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Credit Risk ◽  
Commercial Banks ◽  
Management Practices ◽  
Risk Mitigation ◽  
Mitigation Measures ◽  
Credit Risk Management ◽  
Loan Repayment ◽  
Credit Risk Assessment

The study is primarily focused on credit risk assessment practices in commercial banks on the basis of their internal efficiency, assessment of assets and borrower. The model of the study is based on the analysis of relationship between credit risk management practices, credit risk mitigation measures and obstacles and loan repayment. Based on a descriptive research approach the study has used survey-based primary data and performed a correlation analysis on them. It discovered that credit risk management practices and credit risk mitigation measures have a positive relationship with loan repayment, while obstacles faced by borrowers have no significant relationship with loan repayment. The study findings can provide good insights to commercial bank managers in analysing their model of credit risk management system, policies and practices, and in establishing a profitable and sustainable model for credit risk assessment, by setting a risk tolerance level and managing credit risks vis-a-vis the prevailing market competition.

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