Natural disasters: forecasting economic and life losses

Abstract

Events such as hurricanes, earthquakes, floods, tsunamis, volcanic eruptions, and tornadoes are natural disasters because they negatively impact society, and so they must be measured and understood in human-related terms. At the U.S. Geological Survey, we have developed a new method to examine fatality and dollar-loss data, and to make probabilistic estimates of the frequency and magnitude of future events. This information is vital to large sectors of society including disaster relief agencies and insurance companies.