Risk assessment is the process of estimating the likelihood that an ad
verse effect may result from exposure to a specific health hazard. The
process traditionally involves hazard identification, dose-response a
ssessment, exposure assessment, and risk characterization to answer ''
How many excess cases of disease A will occur in a population of size
B due to exposure to agent C at dose level D?'' For natural hazards, h
owever, we modify the risk assessment paradigm to answer ''How many ex
cess cases of outcome Y will occur in a population of size B due to na
tural hazard event E of severity D?'' Using a modified version involvi
ng hazard identification, risk factor characterization, exposure chara
cterization, and risk characterization, we demonstrate that epidemiolo
gic modeling and measures of risk can quantify the risks from natural
hazard events. We further extend the paradigm to address mitigation, t
he equivalent of risk management, to answer ''What is the risk for out
come Y in the presence of prevention intervention X relative to the ri
sk for Y in the absence of X?'' We use the preventable fraction to est
imate the efficacy of mitigation, or reduction in adverse health outco
mes as a result of a prevention strategy under ideal circumstances, an
d further estimate the effectiveness of mitigation, or reduction in ad
verse health outcomes under typical community-based settings. By relat
ing socioeconomic costs of mitigation to measures of risk, we illustra
te that prevention effectiveness is useful for developing cost-effecti
ve risk management options.