Impacts to people, assets and communities.
The Total Cost of Risk (TCOR) is an planning framework to dynamically calculate the full spectrum of risk impacts to people, assets, and communities, based on different risk mitigation and transfer scenarios.
Impacts considered include:
- Impacts to people
- Life,
- Health,
- Jobs and income,
- Expense to meet basic needs, at different times with respect to an event (before, during, after).
- Impacts to assets
- Residential, commercial and community owned assets,
- Physical impacts to assets,
- Economic impacts to assets such as erosion of valuation.
- Impacts to Community
- Economic Impacts, such as economic activity, recovery times for businesses and industries,
- Fiscal Impacts, such as tax base, municipal operational and capital budgets, and bond ratings,
- Displacement Impacts, for households and businesses,
- Other quality of life impacts, such as public health amenities, comfort, safety, water quality and biodiversity.