Regulatory Approaches to Mitigation

Rising losses to life and property from natural hazard events, and their increasing frequency, show that what were once considered relatively low-probability, high-consequence events are becoming more common and destructive. Hazard mitigation consists of a wide variety of actions that can be taken before or after a natural hazard event to reduce or eliminate long-term risks to life and property. Mitigation saves lives, reduces property damage, and lessens economic and social costs of disasters. A 2005 report by the Multihazard Mitigation Council found that every $1 spent on mitigation results in an average of $4 saved by society. All phases of emergency management—mitigation, preparedness, response, and recovery—are traditionally state and local responsibilities. As the potential for large-scale destruction increases, especially in densely populated and economically ...