In the United States, federal, state, and local governments share responsibility for paying for losses from disasters. As the frequency and severity of disasters has increased, so have the losses. It's worth considering whether the current risk-sharing approach is appropriate.
Oct 14, 2020 The Hill
Congress is considering establishing an insurance program that would make business interruption coverage for pandemics less expensive and more widely available. We have identified several key questions that policymakers could consider when designing a pandemic risk insurance program.
Jul 27, 2020 The RAND Blog
Insurance companies for the most part are not contractually obligated to cover the enormous business interruption losses caused by social distancing and stay-at-home orders. How might the United States design a system for risk spreading and compensation for pandemics? And what roles should insurance and government play?
Jun 26, 2020 The RAND Blog
Tapping Business Interruption Insurance Coverage to Assist Small Business During the COVID-19 Pandemic: Benefits and Drawbacks
Legislation has been introduced in several states that would require insurers to cover business interruption losses due to the COVID-19 outbreak. What are the advantages and disadvantages of such a law? If policymakers were to proceed with such an approach, then what design considerations should they keep in mind?
Apr 10, 2020 The RAND Blog
Wildfires in California have caused and will likely continue to cause substantial losses for residents, businesses, and government agencies. It is important to distribute these losses in a manner that provides incentives to reduce their magnitude over time.
Jul 24, 2019 The RAND Blog
Thousands of Houston-area homeowners will face massive, uninsured losses due to flood damage. Few homeowners buy flood insurance unless they are required to, and it's only mandatory for homes with mortgages located in FEMA-defined high-risk flood zones. People tend to ignore low-probability risks.
Sep 12, 2017 The RAND Blog
With the Terrorism Risk Insurance Act set to expire this year, Congress is currently revisiting a crucial question: What is the appropriate government role in terrorism insurance markets? As the debate unfolds on Capitol Hill, policymakers should consider three key research findings.
Jun 12, 2014 U.S. News & World Report
As residents continue to recover from Superstorm Sandy, they are about to confront dramatic changes in the flood insurance landscape. Changes to federal floodplain maps will mean thousands of New Yorkers will suddenly be living in areas designated as high-risk flood, which will send their insurance rates soaring.
Nov 5, 2013 The RAND Blog
The economic slowdown threatens to put a crimp in ambitious efforts to balance preservation, transportation improvements and development in western Riverside County. It doesn't have to. Actually, it presents an opportunity, writes Lloyd Dixon.
Dec 1, 2008 The Press-Enterprise