catastrophe risk assessment

Catastrophe risk assessment involves evaluating the likelihood and potential impact of major disasters, such as hurricanes, earthquakes, or floods. It helps insurers, governments, and organizations understand how often these events might occur and how severe their consequences could be. By analyzing historical data, geographic factors, and climate trends, this process informs decisions on risk management, resource allocation, and insurance coverage. Essentially, it aims to quantify uncertain, high-impact events to better prepare for and mitigate their effects, ensuring communities and businesses can respond effectively and recover more swiftly.