The Relevance of Legal Aspects, Risk Cultures and Insurance Possibilities for Risk Management

Abstract

Risk culture expresses a variety of factors such as attitudes, believes, values, goals, and practices, shared by an institution, organization or group that influences the way risk is handled in a particular setting. The cultures of risk vary considerably among Europe and often even between regions within a particular country as well as between different social groups, age groups and gender. The interconnection of factors that determine the perception of risk and the social variables is discussed. However, not all of these factors are addressed by this chapter which concentrates on the relevance of legal frameworks and insurance possibilities. The theoretical implications of risk culture on risk assessment and management in practise are explained by the example of the case study Valtellina, Italy.