Catastrophes : insurance issues surrounding the Northridge earthquake and other natural disasters.

Includes references and glossary

Introduction : the Northridge quake -- Government disaster relief -- Why so many uninsureds? -- Insurer concerns -- Historical U.S. earthquakes and potential quake damages -- Risk spreading -- Loss mitigation measures

The Northrige earthquake was the second costliest disaster in U.S. history, exceeded only by Hurricane Andrew. The increasing costs of such major catastrophes point to a need to re-evaluate the way society deals with disasters and their aftermath. This report examines how these events affect various segments of society, including both uninsured and insured victims; federal, state, and local governments; and particularly the insurance industry. Also discusses the various methods government and insurers are proposing to mitigate losses and to control and distribute the costs of disasters equitably