👉 Non-catastrophic, also known as catastrophic, is a type of risk management strategy that aims to minimize or eliminate financial losses during an event or disaster. It involves taking steps to mitigate the impact of potential loss without causing it in the first place. In other words, non-catastrophic risk management focuses on reducing the likelihood and severity of losses rather than eliminating them entirely. This approach can help ensure that businesses and individuals have a better chance of recovering from financial losses caused by natural disasters
