scholarly journals Importance of Insurance Mechanisms in Natural Disasters' Risk Mitigation: A case study in Indiav

2021 ◽  
Author(s):  
Sangram Kishor Patel ◽  
Saradiya Mukherjee ◽  
Ankit Nanda
Keyword(s):  
Risk Management ◽  
Natural Disasters ◽  
Risk Mitigation ◽  
Management Plan ◽  
Management Tool ◽  
Indian Government ◽  
Disaster Insurance ◽  
Sustained Effort ◽  
Number Of Individuals

Introduction: This study aims to understand the dynamics of insurance as a risk management tool for natural disasters in India. It further explores different strategies and programs for disaster insurance adopted by the Indian government and highlights these initiatives' gaps. Methods: The authors conducted both offline and online desk reviews to understand the dynamics of insurance mechanisms and government strategies. They conducted a narrative review of existing literature, including peer-reviewed articles, thematic books, and government and non-governmental reports from diverse sources. Results: The review clearly shows that despite the various types of natural disasters the country faces, the coverage of disaster insurance in India remains low. It outlines the importance of insurance as a risk management tool, especially for the most vulnerable sections of society living in rural parts. The review further highlights the benefits of different government schemes and strategies while at the same time highlighting the gaps in these schemes. Conclusion: The review calls for an urgent and sustained effort to increase the number of individuals insured against natural disasters in the country by addressing the policy shortcomings and engaging with the communities and the private sector to understand their respective needs. The review also underlines the importance of creating awareness regarding disaster insurance among the wider population. Furthermore, it calls for a comprehensive disaster management plan with insurance as one of its pillars.

scholarly journals The Point Bonitation Method and Its Adaptation in Risk Studies: A Case Study in Sri Lanka’s Cities in the Coastal Zone

2021 ◽  
Vol 18 (4) ◽  
pp. 2060
Author(s):  
Dorota Rucińska ◽  
Martyna Zagrzejewska
Keyword(s):  
Risk Management ◽  
High Risk ◽  
Sri Lanka ◽  
Natural Disasters ◽  
Economic Geography ◽  
Disaster Risk ◽  
Specific Result ◽  
Weighting Method ◽  
Tsunami Risk

Article proposes using weighting method named the Point Bonitation Method, a popular interdisciplinary method, especially in the tourism and socio-economic geography, for giving optional direction to further researching tsunami risk. This method qualifies and quantifies those factors that lead to natural disasters so that it is possible to make comparisons with their roles in disaster areas. This case study in Sri Lanka shows a specific result that is quantification of vulnerability by regions and can be used and developed locally for disaster risk management and reduction. This paper presents discussion about other possible reasons of high risk in regions.

Foreign Aid and Family at Risk

2015 ◽  
pp. 425-439
Author(s):  
Kana Takamatsu
Keyword(s):  
At Risk ◽  
Risk Management ◽  
Developing Countries ◽  
Foreign Aid ◽  
Migrant Workers ◽  
Management Tool ◽  
And Migration ◽  
Aid Policy ◽  
Policy Discussion

This chapter examines how the foreign aid policy should and should have supported families facing risks by using the case study of Myanmar. The chapter starts by addressing the issue of poverty, which continues to be the gravest risk in the developing countries, and how family could be the cause of poverty as well as the solution of poverty in foreign aid policy discussion. The situation of poverty and migration as a risk management tool are then examined in the second section of the chapter. Interviews with migrant workers in Thailand and Japan were conducted. Finally, there is a discussion about the developments of Myanmar and how the foreign aid and international community has inadequately responded to the democratization of Myanmar and to the needs of its people.

Risk Management Strategies for Project Success

2018 ◽  
pp. 250-267
Author(s):  
Vittal S. Anantatmula ◽  
Yang Fan
Keyword(s):  
Risk Management ◽  
Project Success ◽  
Risk Mitigation ◽  
Management Strategies ◽  
Management Plan ◽  
Mitigation Strategies ◽  
Risk Management Plan ◽  
Industrial Sectors ◽  
Risk Management Strategies ◽  
Risk Mitigation Strategies

As projects are associated with risks due to the presence of uncertainties and unknowns, risk management assumes importance in project success. This chapter is an attempt to examine various risk mitigation strategies that are commonly employed if different industrial sectors. The chosen risk strategy would also largely depend either on individual's or organization's propensity to take risks. The authors summarize the findings of a research study in this chapter. The research results show that effort and details of a risk management for a project are governed by risks associated with cost and time and not necessarily with the project scope. Also, many organizations prefer a contingency budget to the project plan to developing a detailed risk management plan.

scholarly journals ISO 31000-Based Risk Management and Balanced Scorecard to Improve Company Performance: A Case Study at Indonsian YNK Tour and Travel Company

2021 ◽  
Vol 8 (3) ◽  
pp. 376
Author(s):  
Sandra Galuh Asmarawati ◽  
Perminas Pangeran
Keyword(s):  
Risk Management ◽  
Balanced Scorecard ◽  
Financial Risk ◽  
Management Plan ◽  
Company Performance ◽  
Improve Performance ◽  
Management Options ◽  
The Balanced Scorecard ◽  
Iso 31000

This research aims to conduct risk management assessments based on ISO 31000: 2018 and Balanced Scorecard (BSC) to improve performance at YNK Tour and Travel Company in Indonesia. Data obtained through filling out questionnaires and interviews with the company's director. The identified tourism risks consist of 5 types of risk, including: financial risk, operational risk, environmental risk, competitive risk and economic risk. The result of this research is to produce a risk management design based on ISO 31000. This standard is effective for identifying, analyzing, evaluating, and handling risks assisted by the Balanced Scorecard as a guideline to reach company’s goals. If the companies combine both of the standards, it can improve not only company’s performance but also company’s objective can be achieved. Based on the risk management plan, it is expected to assist the company in coping and dealing with it by determining the best risk management options according to the company's capabilities so that it can improve company performance.

Wildfire Communication and Climate Risk Mitigation

2017 ◽  
Author(s):  
Robyn S. Wilson ◽  
Sarah M. McCaffrey ◽  
Eric Toman
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Private Property ◽  
Risk Mitigation ◽  
Strategic Communication ◽  
Management Tool ◽  
Wildfire Risk ◽  
The Public ◽  
Resource Managers ◽  
Risk Management Process

Throughout the late 19th century and most of the 20th century, risks associated with wildfire were addressed by suppressing fires as quickly as possible. However, by the 1960s, it became clear that fire exclusion policies were having adverse effects on ecological health, as well as contributing to larger and more damaging wildfires over time. Although federal fire policy has changed to allow fire to be used as a management tool on the landscape, this change has been slow to take place, while the number of people living in high-risk wildland–urban interface communities continues to increase. Under a variety of climate scenarios, in particular for states in the western United States, it is expected that the frequency and severity of fires will continue to increase, posing even greater risks to local communities and regional economies.Resource managers and public safety officials are increasingly aware of the need for strategic communication to both encourage appropriate risk mitigation behavior at the household level, as well as build continued public support for the use of fire as a management tool aimed at reducing future wildfire risk. Household decision making encompasses both proactively engaging in risk mitigation activities on private property, as well as taking appropriate action during a wildfire event to protect personal safety. Very little research has directly explored the connection between climate-related beliefs, wildfire risk perception, and action; however, the limited existing research suggests that climate-related beliefs have little direct effect on wildfire-related action. Instead, action appears to depend on understanding the benefits of different mitigation actions and in engaging the public in interactive, participatory communication programs that build trust between the public and natural resource managers. A relatively new line of research focuses on resource managers as critical decision makers in the risk management process, pointing to the need to thoughtfully engage audiences other than the lay public to improve risk management.Ultimately, improving the decision making of both the public and managers charged with mitigating the risks associated with wildfire can be achieved by carefully addressing several common themes from the literature. These themes are to (1) promote increased efficacy through interactive learning, (2) build trust and capacity through social interaction, (3) account for behavioral constraints and barriers to action, and (4) facilitate thoughtful consideration of risk-benefit tradeoffs. Careful attention to these challenges will improve the likelihood of successfully managing the increasing risks that wildfire poses to the public and ecosystems alike in a changing climate.

Risk Management Instruments, Strategies and Their Impact on Project Success

2013 ◽  
Vol 2 (2) ◽  
pp. 27-41 ◽  
Author(s):  
Vittal Anantatmula ◽  
Yang Fan
Keyword(s):  
Risk Management ◽  
Project Success ◽  
Risk Mitigation ◽  
Research Effort ◽  
Past Research ◽  
Management Plan ◽  
Risk Management Plan ◽  
Management Processes ◽  
Risk Research ◽  
Individual Project

Risk is an inseparable event or occurrence to any project and it is a consequence of uncertainties and unknowns associated with the project and its execution. Past research studies generally focused on types of risks and risk management processes. This research effort, using a survey questionnaire, is an attempt to understand types of specific risk mitigation approaches that are commonly employed and their dependency with the type of an organization. This research effort also addressed relation between risk mitigation strategy of an organization and individual project manager’s propensity to risk. Research results show that project risk management plan and it development is likely to be influenced by cost and time aspects of a project but not on the project scope. Further, results revealed that many organizations depend on contingency budget rather than a formalized risk management plan.

scholarly journals Regional transportation development for development at fertilizer plants in North Sumatra (case study)

2018 ◽  
Vol 236 ◽  
pp. 02012
Author(s):  
Ikhsan Siregar ◽  
Mangara M. Tambunan
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Risk Level ◽  
Urea Fertilizer ◽  
Analysis And Evaluation ◽  
Mitigation Action ◽  
Transportation Development ◽  
North Sumatra

Supply chain activity has an opportunity for the occurrence of risk. Therefore, risk management is needed in the handling of risk with the aim to minimize the risk level and impact of those risks. PT. XYZ of PT Pupuk Indonesia (Persero) engaged in the fertilizer industry. The main product produced is urea fertilizer. In the production process, the factory is supported by adequate production facilities and international standard technology. Currently, PT XYZ does not yet have risk management which explicitly discusses the proposed risk management along with the handling strategies required by the company. By looking at the current condition of the company, in order to achieve the goals to be achieved the company needs a good supply chain planning such as by identifying the risks that exist in the supply chain and preventive measures. Performed risk analysis and evaluation of potential supply chain companies using HOR (House Of Risk) tools. After the research there were 42 risk events and 42 risk agents. With the 80/20 pareto approach, 9 risk agents are planned for mitigation action. There are 11 recommended risk mitigation actions recommended to the company in the hope of addressing the risk of urea fertilizer supply chain.

Developments Toward a Risk Management Tool for Simulations of Marine Transport of Radioactivity in the Oceans — a Case Study from the Kara Sea

1997 ◽  
pp. 103-108
Author(s):  
Ola M. Johannessen ◽  
Lasse H. Pettersson ◽  
L. P. Bobylev ◽  
I. A. Neelov ◽  
A. V. Kouraev ◽  
...  
Keyword(s):  
Risk Management ◽  
Kara Sea ◽  
Management Tool ◽  
Marine Transport
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