Risk Management - McGraw-Hill Introduction to Business

Hurricane Ian Upends Florida’s Real Estate Market

October 14, 2022

Last month, Hurricane Ian devastated communities across the state of Florida, leading to more than 100 deaths and billions of dollars in damage. According to the catastrophe modeling firm RMS, privately insured losses are expected to reach as high as $67 million, making Ian second only to Hurricane Katrina in terms of economic destruction. Unlike previous storms like Katrina and Hurricane Andrew, however, today’s scientists blame climate change for the increasing regularity of severe weather events. That means experts see Continue reading →

Insurance, Natural Disasters, Risk Management, Hurricanes, Global, Florida, Real Estate, Climate change

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

Hurricane Dorian Causes Billions in Damages to the Bahamas

September 10, 2019

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Last week, Hurricane Dorian tore through the Caribbean and up the Southeastern Coast of the U.S., causing major damage all along the way. Two islands in particular, Abaco Island and Grand Bahama, faced huge devastation as a result of the tropical storm. According to the United Nations, more than 70,000 people in the Bahamas are now homeless and in need of food and water. (Click here to view a list of vetted relief organizations that are currently seeking donations.) Continue reading →

GDP, Tourism, Marketing, Travel, Global, Natural Disasters, Ethics, Risk Management, Hurricanes, Bahamas

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Bonus Chapter C: Managing Risk

Hurricane Florence Causes Billions of Dollars in Damage

September 20, 2018

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Last week, Hurricane Florence made landfall on the coast of the Carolinas as a Category 1 storm. So far its effects have been devastating, claiming the lives of 32 people as millions more deal with widespread flooding and loss of power. The storm has also caused a huge amount of damage to buildings and roadways along the coast. According to one estimate by Moody’s Analytics, the total cost to repair all this destruction could climb as high as $20 billion. Continue reading →

South Carolina, North Carolina, Economics, Ethics, Natural Disasters, Risk Management, Hurricanes

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

Hurricane Maria Deals Major Damage to Puerto Rico

September 28, 2017

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Over the last month hurricanes have torn through America’s southern coast, inflicting massive amounts of damage to Texas, Florida, and other states in the region. Of course, the U.S. mainland is far from the only place that’s been harmed by these major weather emergencies. Along with devastating Caribbean islands like Barbados and Barbuda, recent tropical storms have also hammered the American territory of Puerto Rico. First it had to endure Hurricane Irma, which only clipped the island’s northern portion Continue reading →

Hurricane Maria, Puerto Rico, Ethics, Natural Disasters, Risk Management, Hurricanes

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Bonus Chapter C: Managing Risk

Estimating the Economic Impact of Hurricane Harvey

August 29, 2017

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Over the weekend Hurricane Harvey landed in South Texas and began a cycle of major flooding that overwhelmed residents and emergency services. With thousands of people remaining in Houston and its surrounding communities during the storm, first responders spent a lot of time bravely searching for victims and pulling them out of the water. Media outlets then broadcast some of these stories to a shocked American public, leading to an outpouring of support and donations. (Click here for information on Continue reading →

Hurricane Harvey, Hurricanes, Operations Management, Ethics, Natural Disasters, Risk Management

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Bonus Chapter C: Managing Risk

World Bank: Natural Disasters Cost More than $500 Billion Annually

March 3, 2017

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From tsunamis to earthquakes to hurricanes, each year natural disasters strike all across the world and leave devastation in their wake. In the immediate aftermath of these catastrophes, ensuring people’s safety is the number one priority. As a community starts to recover from a disaster, however, their thoughts turn towards rebuilding and returning to normalcy. Still, this isn’t such an easy task to accomplish. Natural disasters can destroy infrastructure and buildings that take millions of dollars and months of time Continue reading →

Risk Management, Global, World Bank, Ethics, Insurance, Natural Disasters

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter C: Managing Risk