catastrophe
(redirected from Catastrophes)Also found in: Dictionary, Medical, Encyclopedia.
- noun
Also found in: Dictionary, Medical, Encyclopedia.
References in classic literature
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Two men were still living who had witnessed the grim catastrophe of nearly half a century before--Marie Couttet (saved by his baton) and Julien Davouassoux (saved by the barometer).
As you looked round upon the many-coloured beauty of the scene all thought of a vast catastrophe would have passed from your mind had it not been for one sinister sign--the solemn, all-embracing silence.
"At the same time," said Challenger, his great voice booming strangely amid the silence, "it is difficult for us to conceive that out of seven millions of people there is only this one old woman who by some peculiarity of constitution or some accident of occupation has managed to survive this catastrophe."
The Chicago Board of Trade (CBOT) recently introduced a remarkable technique for controlling the costs of natural catastrophes, known as "catastrophe futures." Moreover, this innovation may be the best predictor of catastrophes ever available.
Large events in evolutionary history may simply reflect the natural fluctuations of a self-organized critical system rather than the consequences of catastrophes.
While 2011 produced significant insured losses from natural catastrophes, AIR Worldwide says in a recent report that it sees little evidence that catastrophes are becoming more frequent and severe, stating that increases in losses are primarily the result of having more exposures in catastrophe-prone areas.
The story of 2011 was one of catastrophes, capital, reserve releases and the economy, said Key Coleman, managing director at consultancy Grant Thornton LLP
"Insurers need to develop their modelling capabilities to better assess the risk that these perils pose," said Swiss Re's sigma report titled "Natural catastrophes and man-made disasters in 2018: 'secondary' perils on the frontline."
To highlight the growing costs of these secondary perils, Swiss Re said, the combined insured losses from natural catastrophes during 2017 and 2018 was US$219 billion, which is the highest-ever total for a two-year period.
In 2018, natural catastrophes wreaked havoc around the world.
The operation of Perils was patterned after another data aggregator in the United States, the Property and Claims Services which operates for US catastrophes. The Property and Claims Services (PCS) is a subsidiary of Insurance Services Office Inc., a for-profit Delaware stock corporation that is the leading provider of information on property/casualty insurance, including statistical information, actuarial analyses and underwriting services in the United States.
Therefore, the risk of (human and financial) losses caused by natural or man-made catastrophes cannot be neglected and needs to be managed carefully (Komljenovic, Gaha, & Abdul-No, 2016).
"I look forward to assisting governments and nongovernmental organizations to strengthen their emergency management programs and help them prepare for natural and man-made catastrophes before disasters strike."
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