Risk managers preparing for disasters can learn a lot from the very first known practitioner of catastrophe mitigation, who took to heart advance warnings of a calamity literally of biblical proportions, took extraordinary safety measures even though there was no sign of any immediate threat, and who endured extreme ridicule for his preparedness efforts. That risk manager was none other than Noah of the Old Testament.

“Noah was the first risk manager. He underlines the importance of due diligence,” according to Jay N. Rosenblatt, a partner at SimpsonWigle LAW LLP in Hamilton, Ontario, who pointed out that it wasn't raining when Noah built his famous ark to save the world's animal kingdom during the great flood.

Mr. Rosenblatt, whose law firm provides legal services and strategic advice, said that a major danger to risk managers is lack of awareness of their catastrophe risks.