More than a buzzword, resilience is the vision, collaboration and science that will save communities from the caprices of natural disaster. Louis Gritzo, who holds a doctorate in mechanical engineering and is head of property loss prevention research at insurer FM Global, builds a case for better resilience by busting a few myths in this opinion piece on Business Insurance.
As witnessed last year with the earthquake in Nepal, natural disasters exact a heavy toll. In the last 10 years, disasters cost more than 700,000 lives, injured 1.4 million and made some 23 million homeless, according to the United Nations. The economic toll of those disasters has topped $1.3 trillion. Insured losses typically are one-third of the total or less.
With natural disasters a constant threat in a developing and dynamic world, there are urgent calls to improve resilience.
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