Improving the Financial Resilience of Public Entities and Individuals for Natural Disasters

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Source: Photo By: Spc. Brett Hornback
Source: photo by Spc. Brett Hornback

January 3, 2024 | Originally published by RAND, sponsored by the Under Secretary of Homeland Security for Science and Technology on December 2, 2023

Individuals and state and local governments (public entities) incur losses associated with natural disasters. For individuals, there are costs associated with evacuating, possible periods of unemployment, and costs associated with physical damage caused by the event, much of which is uninsured loss. Similarly, public entities incur damage to public buildings and public utilities and tax base losses associated with reduced economic activity. Although an entire community experiences a natural disaster, low-income communities and communities of color are disproportionately vulnerable to the risks of natural hazards and encounter the most difficulty in recovering from disasters.


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