The paper proposes a method for risk assessment from natural hazards using an actuarial model. In particular the method is based on the collective risk model for evaluation of the consequences /aggregated loss due to occurrence of the natural hazard with certain intensity level and probability in the considered time interval. The risk assessment results can support the state and local government to take more informed decisions regarding the efficient allocation of the available funding for the improvement of the community and infrastructure from natural hazards. The proposed risk assessment method with actuarial model is envisaged to be implemented as a part of an information system for risk management of natural disasters. This system can be successfully used in e-government.
Risk assessment, actuarial model, collective risk model, natural hazard.
P. Zlateva is with the ISER, Bulgarian Academy of Sciences, Sofia 1113, Bl. 2, Bulgaria (e-mail:firstname.lastname@example.org).
D. Velev is with the University of National and World Economy, Sofia 1700, Bulgaria (e-mail:email@example.com).
Plamena Zlateva and Dimiter Velev, "
A Method for Risk Assessment from Natural Disasters Using an Actuarial Model," Journal of Economics, Business and Management vol. 4, no. 5, pp.