Tag: hazards

Risk Transfer refers to instruments that share/hedge economic risks before losses occur. Examples include: Budget self-insurance, Market Insurance and Reinsurance, Public asset coverage, Risk pooling and diversification and Risk financing.

DRR is a part of sustainable development, so it must involve every part of society, government, non-governmental organizations and the professional and private sector. It therefore requires a people-centered and multi-sector approach, building resilience to multiple, cascading and interacting hazards and creating a culture of prevention and resilience. Consequently DRM includes strategies designed to:

1. Avoid the construction of new risks
2. Address pre-existing risks
3. Share and spread risk to prevent disaster losses being absorbed by other development outcomes and creating additional poverty

India with its vast size and unique geo-physical characteristics is one of the world's most disaster prone countries. Natural disasters occur frequently in varying intensity in different parts of the country. 
1. Over 55% of the land area is vulnerable to earth quakes.
2. 12% to floods
3. 8% to cyclones.
4. 70% of the cultivable land is prone to drought.

On Dec 23,2005 the Government of India took a defining step by enacting the disaster management act,2005. It envisaged the creation of Nation disaster management authority. It is to be headed by the Prime Minister and it was created to spearhead and adopt a holistic and integrated approach a disaster management.

Mitigation is also used to assess structural and non-structural measures undertaken to reduce possible damage at a level which does not harm people and property, according to codes or accepted practice based, among other issues, on a known probability of hazard.