The objective of this study is to develop a consistent conceptual framework for the identification and measurement of damages and losses that result from natural hazard events such as tornadoes, floods and earthquakes. For this purpose a set of categories of impacts such as primary and secondary economic, and ecological and environmental impacts will be identified, and the associated measurement methodology will be developed. The results of this research will benefit governmental and private administrators, managers and professionals in the area of hazards mitigation, by providing consistent and/or normalized damage/loss data and guidelines for the impact data collection. Consistency of data across hazards will help the development of economic planning, and hazards mitigation, prevention and response strategies.