Projects on Flood Risk Management
RAND conducts research to support decisionmaking and planning to better manage and reduce the impacts of flooding on individuals and communities. Through the Center for Catastrophic Risk Management and Compensation, RAND researchers have evaluated the uptake and performance of federal flood insurance in the United States, with a recent focus on New York City after Hurricane Sandy.
In addition, RAND researchers have developed a new approach and simulation model to estimate hurricane flood risk in the City of New Orleans and across Coastal Louisiana, and evaluate a range of options to manage or reduce this risk. RAND’s Coastal Louisiana Risk Assessment (CLARA) model, described below, has been used to directly support the development Louisiana’s 2012 Coastal Master Plan.
States that have recently experienced a presidentially declared major disaster can apply for funds through the Natural Disaster Resilience Competition. For Louisiana's application, RAND provided a quantitative analysis of baseline flood risks under different amounts of investment in three parishes.
Ho Chi Minh City faces significant and growing flood risk. Recent risk reduction efforts may not work if climate and socio-economic conditions diverge from earlier projections. Robust decision making can help Vietnam's largest city develop integrated flood risk management strategies despite this uncertainty.
The Coastal Louisiana Risk Assessment (CLARA) model developed by RAND estimates flood depths and damage that occurs as a result of major storms in Louisiana's coastal region and was used to evaluate potential projects for inclusion in the state's 2012 Coastal Master Plan.
Only about half of homeowners living in some of the most flood-prone areas of the United States buy federal flood insurance, leaving millions of families at risk for severe financial losses when floods strike.