Risks abound at home and abroad
A recent report by the UK-based think tank Chatham House describes the challenges associated with preparing for high-impact, low-probability events as well as potential global impacts. On the latter point, the report highlights how impacts will be felt well beyond an immediate disaster area, with the effects reverberating around the world because of our interconnected, global economy. In short, the best we can do is allocate resources based on risk assessments, and have a robust all-hazards plan to address the Black Swans that we could not have anticipated.