Natural hazards typically claim over 60 thousand lives and affect over 200 million people each year. In 2020, 65% of economic losses from natural hazards were not insured -- society’s “protection gap.” To address this protection gap, assessing, pricing, and acting on natural peril risks remains challenging but critical. This session seeks to bridge the gap between academics and practitioners in the areas of risk management, risk transfer, and risk financing through discussions on how improved assessments of natural hazards, exposure, and vulnerability can improve the design and deployment of risk management products (e.g., traditional (re)insurance, index and parametric insurance, catastrophe bonds, and forecast-based financing). Furthermore, we welcome work from social and natural sciences on innovations in assessing and addressing human-relevant natural hazard risks (e.g., droughts, wildfires, tropical cyclones, flooding, earthquakes, volcanoes, and extreme temperatures) through innovative applications of earth observations, weather data, physical models, and forecasts.

• GC - Global Environmental Change
• H - Hydrology
• SY - Science and Society