|may be months to many years|
|Hazard forecasting and warning systems||NOAA, USGS, USACE, NASA, USFS, state agencies, private sector||Constant data collection and monitoring||Allows forecasts of potential events and their impacts to be made; when communicated in a timely way, warning systems can save lives||Complex disasters and natural systems, increasing population, and potential longer-term impacts require increased data precision and better forecasting models|
|Insurance||FEMA, state insurance commissioners, private insurance industry, banks||Policies currently are issued on an annual basis but some consideration is being given to multiyear insurance tied to the property||Risk-based pricing that communicates level of risk to people in hazard-prone areas; vouchers for lower-income owners||Continued public financial assistance to those who do not buy insurance|
|Catastrophe bonds||Insurers, banks, investors||Typically 1 to 3 years||Risk is transferred to a broad investor base in the event of a catastrophic event; allows access to large fund amounts fairly quickly||Investors lose invested funds if a catastrophic event occurs; insurers pay bond amount with interest if the event does not occur|
Note: FEMA = Federal Emergency Management Agency, NASA = National Aeronautics and Space Administration, NIST = National Institute of Standards and Technology, NOAA = National Oceanic and Atmospheric Administration, USACE = U.S. Army Corps of Engineers, USFS = U.S. Forest Service, and USGS = U.S. Geological Survey.