Study on large-scale disaster risk assessment and risk transfer models

This article analyzes the risk assessment and risk transfer models of large-scale disasters in line with the characteristics of such disasters. A large-scale disaster risk assessment model based on the Regional Disaster System concept is developed: large-scale disaster risk (RL) is a func- tion of the disaster triggering hazard (H), the vulnerability of the concerned objects (V), and the stability of the contextual hazard-formative environment (E), or RL = f(H, V, E). Based on our discussions, we propose that large-scale disaster risk transfer in China should be supported by governments at all levels, operated by insurance companies, and the responsi- bilities should be shared by all stakeholders. At the global level, large-scale disaster risk transfer should employ a uni- form definition and be characterized by government support, market operation, public participation, disaster mitigation, and risk sharing.