States the impact of catastrophes on shareholder value is not strongly influenced by the existence of catastrophe insurance, but that a catastrophe puts the spotlight directly on management's ability to handle a crisis. Uses a Table of cases studied with regard to catastrophe effects and also uses 3 Figures showing differences between recoverers and non‐recoverers; and also Union Carbide after Bhopal; plus PanAm after Lockerbie. Concludes large numbers of fatalities, along with issues about management's responsibility for the accident or attendant safety lapses, are significant factors differentiating non‐recoverers.
The Antidote – Emerald Publishing
Published: Aug 1, 1999
Keywords: Crisis; Disaster recovery; Disaster management