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Preparing For High-Impact, Low-Probability Events: Lessons From Eyjafjallajokull

Preston , Bernice Lee, Felix Preston and Gemma Green

Paperback

Expected to dispatch on around 1st August 2012
Received in 10-15 days after dispatch
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Released 1st August 2012 - Typically received in 10-15 working days after publication date

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Preparing For High-Impact, Low-Probability Events: Lessons From Eyjafjallajokull

Synopsis

The frequency of "high-impact, low-probability" (HILP) events in the last decade —such asHurricane Katrina, the Tohoku earthquake and tsunami, and major floods in Pakistan and Thailand —signals the emergence of a new "normal." In a world of globalized production and optimized supply chains, the impacts of HILP events spread rapidly and are felt on an international scale. This report examines the effects of the volcanic ash cloud that spread across Europe in April 2010 and draws lessons for other HILP events. It considers whether governments and the private sector are sufficiently prepared, how the global economy could be made more resilient, and the role of communications in a crisis.