The Global Risk Map is the second phase of the PSI Global Resilience Project, which is led by Insurance Australia Group (IAG). The Map was introduced at a major PSI event in Switzerland in May 2015, and formally launched at a global insurance industry event in New York in June 2015.
The Global Risk Map covers major natural hazard events over the past 115 years. The map highlights the social and economic devastation caused by cyclones, floods, earthquakes and related perils, and identifies the regions/countries most vulnerable to these natural hazards. The map achieves this by assessing relevant core data such as available disaster statistics, social and economic variables, and insurance penetration and density.
The Global Risk Map demonstrates the following data through an interactive tool: Exposure to cyclones, earthquakes, floods and related perils (geo-coded). Cyclone, earthquake, flood and related peril events since 1900 (country level). The economic and social impact of these events (county level). National-level vulnerability to each of these natural hazards. National-level resilience, covering vulnerability and coping capacity, including disaster risk reduction and insurance penetration and density (covering both general and life insurance). The Map incorporates a range of secondary data sources.
Given that the most respected sources on disaster events only go back to 1900, that year is used as the Map's base point. The social cost of natural disasters is measured by fatalities, while the economic cost is measured by the economic damage sustained (the amount of damage to property, crops, and livestock – as defined by EM-DAT).
The Global Risk Map uses Terria™ technology, built by the team at National ICT Australia (NICTA). The underlying platform technology allows the user to benefit from the masses of datasets related to the project such as disaster response resources and insurance penetration and density. Terria™ maps allow users to search spatial data catalogues through all major web browsers. It is interoperable with a wide range of geographic information systems (GIS) back-end services and is Open Geospatial Consortium (OSG) compliant. Terria’s versatility and sophisticated operating experience is a seamless fit for the Global Risk Map.
This resource is Phase 2 of the The Global Resilience Project. Phase 1: Building disaster-resilient communities and economies (report) can be accessed in Related Content below.