Catastrophic Risk Management
RAND seeks to improve the complex system of public and private compensation for losses of life and property caused by natural disasters and terrorist attacks.
The RAND Center for Catastrophic Risk Management and Compensation seeks to identify and promote laws, programs, and institutions that reduce the adverse social and economic effects of catastrophes by:
- Creating appropriate incentives to avoid and mitigate risk
- Providing just compensation to those suffering losses while appropriately allocating liability to responsible parties
- Enabling affected individuals, businesses, and communities to recover quickly
- Doing so without unnecessary legal, administrative and other transaction costs