Lloyd Dixon

Photo of Lloyd Dixon
Director, RAND Kenneth R. Feinberg Center for Catastrophic Risk Management and Compensation; Senior Economist; Professor of Policy Analysis Pardee RAND Graduate School
Santa Monica Office


Ph.D. in economics, University of California, Berkeley; B.S. in general engineering, Stanford University; B.A. in political science, Stanford University

Media Resources

This researcher is available for interviews.

To arrange an interview, contact the RAND Office of Media Relations at (310) 451-6913, or email media@rand.org.

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Lloyd Dixon is a senior economist at the RAND Corporation and director of the Kenneth R. Feinberg Center for Catastrophic Risk Management and Compensation at RAND. He has expertise in insurance, compensation, and liability issues.  For California’s Fourth Climate Change Assessment, he investigated the impact of changing wildfire risk on California’s residential insurance market.  He has examined the prevalence of flood insurance across the country and, following Hurricane Sandy, assessed the costs and benefits of a flood insurance affordability program for New York City. He recently completed a study characterizing the risk management practices of state and local government and their implications for FEMA’s Public Assistance program. He is currently analyzing options for a federally backed pandemic risk insurance program.

Dixon has examined compensation and liability policies in a number of different settings. Following the September 11th terrorist attacks, he described and evaluated the complex web of insurance, charity, government, and tort payments that provided assistance to individuals and businesses harmed in the attacks. He has examined the incentives potentially responsible parties have to provide assistance in the immediate aftermath of a disaster and is currently investigating the impact of compensation funds on post-disaster litigation.

Previous Positions

Research Director, RAND Center for Terrorism Risk Management Policy; Research Director, RAND Institute for Civil Justice

Recent Projects

  • Improving the affordability and availability of pandemic risk insurance
  • Risk management practices of state and local government
  • The impact of changing wildfire risk on California's residential insurance market
  • Options for a flood insurance affordability program
  • Early assistance from potentially responsible parties after a human-caused disaster

Selected Publications

Lloyd Dixon and Jamie Morikawa, Improving the Availability and Affordability of Pandemic Risk Insurance: Projected Performance of Proposed Programs, RAND Corporation (RR-A1223-1), 2021 (forthcoming)

Lloyd Dixon, Jason Barnosky, Noreen Clancy, Insuring Public Buildings, Contents, Vehicles, and Equipment against Disasters: Current Practices and Options for Risk Sharing between Federal, State, and Local Government, RAND Corporation (RR-A332-1), 2020

Nick Pace and Lloyd Dixon, COVID-19 Vaccinations: Liability and Compensation Considerations Critical for a Successful Campaign, RAND Corporation (PE-A761-1), 2020

Lloyd Dixon, Flavia Tsang, Gary Fitts, The Impact of Changing Wildfire Risk on California's Residential Insurance Market, California Natural Resources Agency (EP-67670), 2018

Lloyd Dixon et al., The Cost and Affordability of Flood Insurance in New York City: Economic Impacts of Rising Premiums and Policy Options for One-to Four-Family Homes, RAND Corporation (RR-1776), 2017

Benjamin Miller, Lloyd Dixon, and Noreen Clancy, ""Reasonable and Risk-Based? Replacing NFIP Generally Subsidized Rates with a Means-Tested Subsidy"," Southern Economic Journal, 2019

Nick Pace and Lloyd Dixon, Early Assistance from Potentially Responsible Parties After Human-Caused Disasters, RAND Corporation (RR-3022), 2019

Lloyd Dixon et al., The National Flood Insurance Program's Market Penetration Rate: Estimates and Policy Implications, RAND Corporation (TR-300), 2006

Recent Media Appearances

Interviews: Associated Press; Atlanta Business Chronicle; BestWire; Chicago Tribune; CNN/Money.com; Hearst Newspapers; Insurance Journal; New York Times; Wall Street Journal


  • Lynn Jones receives the COVID-19 vaccine at Jackson Madison County General Hospital in Jackson, Tennessee, Friday, Dec. 18, 2020, photo by Stephanie Amador/The Jackson Sun via Imagn Content Services, LLC/Reuters

    The Compensation System for Potential Side Effects Is an Important Part of a COVID-19 Vaccine Campaign

    Concern about potential COVID-19 vaccine side effects and their consequences may be contributing to Americans' reluctance to get vaccinated. Policymakers and the public should carefully consider what types and levels of compensation for any adverse effects of vaccination are truly fair and appropriate.

    Dec 18, 2020 The Hill

  • Two cars after they were destroyed by a tornado in Washington, Illinois, November 19, 2013

    Creating the Right Incentives for State and Local Governments to Reduce Disaster Costs

    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

  • Finger stopping wooden dominoes from falling over, photo by simarik/Getty Images

    Key Questions to Ask in Designing a Pandemic Risk Insurance Program

    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

  • Man holds a cutout of an umbrella over a scale with bags of money on one side and blocks spelling risk on the other, photo by William_Potter/Reuters

    Is It Time for a Federal Pandemic Insurance Program?

    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

  • Businessman stops domino effect, photo by ridvan_celik/Getty Images

    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

  • PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, November 21, 2018, photo by Elijah Nouvelage/Reuters

    Allocating Costs for California Wildfires

    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

  • Houses are seen partially submerged in flood waters caused by Tropical Storm Harvey in Northwest Houston, Texas, August 30, 2017

    Why Houstonians Didn't Buy Flood Insurance

    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

  • The Tribute in Light is illuminated on the skyline of New York's Lower Manhattan as people look across the Hudson River in Jersey City, September 11, 2013

    3 Terrorism Risk Insurance Act Facts for Congress to Consider

    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

  • men walk through flooding left by the storm surge of Superstorm Sandy in the New Dorp Beach neighborhood of  Staten Island

    A Year After Sandy, a New Threat to New York City

    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

  • Grab Vital Habitat Now: How Riverside County Can Step Up Conservation While Land Prices Are Down

    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