Business interruption losses from natural hazards: conceptual and methodological issues in the case of the Northridge earthquake

The impact of a storm surge on business establishments in the Houston MSA

“…For example, De Silva et al (2006) note that it took 3 years for the local housing tax base in the Oklahoma City area to attain pre-1999 Oklahoma City tornado levels, while Thompson (2009) indicates that it took 10 months for the State of Louisiana's economy to recover to pre-Hurricane Katrina levels. Rose et al (1997), Rose and Lim (2002) indicate that recovery may depend on infrastructure and business resiliency. According to the results of the current study, if the storm surge is 5 m, the Houston MSA may lose about $7 million per day in wages.…”

“…Rose et al (1997), using a Earthquake simulation study of business interruption losses from utility disruptions for Memphis, Tennessee, indicate that the potential production loss over the recovery period could amount to as much as 7% of gross regional product. Rose and Lim (2002) indicate that losses from utility disruptions are highly sensitive to business resiliency. In their study, De Silva et al (2006) have shown that it has taken about 3 years for Oklahoma City suburbs to fully recover from the 1999 Oklahoma City Tornado.…”

Assessing organizational resilience to climate and weather extremes: complexities and methodological pathways

“…Rose and Lim 2002) typically seek to determine business losses from actual events and have limited insights regarding predictive elements of future resilience which are of particular interest to this paper. However, researchers have also modeled business interruption losses under hypothetical circumstances (terrorist attacks, water utilities disruptions) to estimate the effects of resilience adjustments (Rose and Liao 2005;Rose et al 2007).…”

“…A common approach to project potential losses is to assume a linear relationship between input and output losses (i.e., 40% loss of electricity input due to a disaster is assumed to result in a 40% reduction in organizational production and output for the disruption period). Actual direct output losses can be determined using survey data (Tierney 1997) or simulation models (Rose and Lim 2002). In other words, these models assume that resilience is the reduction of losses from a particular event.…”

Mapping community knowledge of vulnerability of value: a case study in the UK

“…Researchers have noted that the interdependency between different factors are not straight forward, for example, business interruption losses stem not only from the organisation itself but also from interdependencies between suppliers, producers, consumers, business owners and the relevant stakeholder environment [9,10]. These interdependencies between different stakeholders involve higher level of physical, economic and social complexities in relation to adaptation to risk which in other words exposes their damage potential in the form of vulnerability [11].…”