Center for Catastrophic Risk Management and Compensation

The RAND Center for Catastrophic Risk Management and Compensation, or CCRMC, seeks to identify and promote laws, programs, and institutions that reduce the adverse social and economic effects of natural and manmade catastrophes by

  • Improving incentives to reduce future losses
  • Providing just compensation to those suffering losses while appropriately allocating liability to responsible parties
  • Helping affected individuals, businesses, and communities to recover quickly
  • Avoiding unnecessary legal, administrative, and other transaction costs
  • How do insurers write policies and price cyber risk?

    Oct 6, 2017

    The market for insuring against data breaches and cyber security incidents has grown rapidly in the past decade. However, very little is known about these cyber insurance policies and the mechanisms behind the risk assessments.

  • Why Houstonians Didn't Buy Flood Insurance

    Sep 12, 2017

    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.

  • Flood Insurance Costs Rising in New York City

    Mar 27, 2017

    Hurricane Sandy highlighted the importance of efforts to promote resilience. Flood insurance is a key component, but it's hard to afford for some households in New York City. What are some options for a program that helps reduce the impact of higher premiums?

  • Designing Compensation Funds After Man-Made and Natural Disasters

    Jul 6, 2016

    Man-made and natural disasters in the United States frequently cause personal injury and property damage to dozens, and sometimes even thousands, of people. After such disasters, victim compensation programs are sometimes created to compensate those affected. The design of such programs requires balancing the objectives of various stakeholders.

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