High rates of urbanization, environmental degradation, and industrial development have affected all nations worldwide, but in disaster-prone areas, the impact is even greater serving to increase the extent of damage from natural catastrophes. As a result of the global nature of environmental...

This study describes how risk-based risk control allocation models work. We begin by discussing the economic rationale for allocating risk control in a diversified organization such as an enterprise. For a probability model for risk control decision making under uncertainty and risk, we propose...

This study describes a critical assessment of the risk control decision model from a methodological perspective and identifies major shortcomings with the employment of enhanced formal evaluation and decision-making methods. This in turn could have major applications for natural disaster risk...

Natural disaster risk, a long-time concern in the insurance industry, is increasingly recognized as a present danger in the business strategies of risk control and enterprise management agencies. Floods and earthquakes can cause massive loss of life and infrastructure, resulting in business...

This study presents an extended framework for the analysis of economic effects of natural disaster risk management. It also attempts to define and evaluate the optimal insurance arrangements. A model, the economic utility constrained-maximization model, is proposed. The purpose of this study is...