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Comment - The Indian Ocean tsunami: lessons for the future.
(From Reinsurance)
Byline: Geoffrey Bromley, chairman of European and Asian operations at Guy
The tsunami of December 26 2004 is one of the worst disasters in human history. While our thoughts and prayers are with the victims and those ushering relief to the area, we must turn our attention to any lessons that might be derived from such an event. In particular, we can review potential ways to prevent such a large loss of life and to promote long-term recovery from such disasters.
One clear fact we have learned is that tsunamis are not as rare as initially thought: there have been 790 around the globe in the last 100 years.
Damage from tsunamis, however, has been a relatively minor contributor to insured earthquake losses, according to Risk Management Solutions (RMS), a modelling company.
We can distinguish three stages of human distress following mega-catastrophes.
The first stage is the immediate impact of the disaster with its frightening toll of death and injury. The second stage is the emergency stage, where people live like refugees, subject to malnutrition as well as food and water contamination. The third phase is the rebuilding stage.
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