Catastrophic Liability Risk Management

  • A business person in a suit holding an umbrella in front of a cityscape. Photo by anyaberkut / Getty Images


    Improving the Availability and Affordability of Pandemic Risk Insurance: Projected Performance of Proposed Programs

    This report evaluates and models proposals for an insurance-based program to provide businesses with resources to maintain payroll and benefits and cover ongoing operating expenses during a pandemic.

    Jun 15, 2021

  • Denise Gregory, a staff member at Crown Heights Center for Nursing and Rehabilitation, a nursing home facility, receives the COVID-19 vaccine from Walgreens Pharmacist Annette Marshall, in Brooklyn, New York, December 22, 2020, photo by Yuki Iwamura/Reuters


    COVID-19 Vaccine Liability and Compensation in the United States

    This RAND Corporation virtual event explored how those who believe that they have been injured by COVID-19 vaccines in the United States can seek compensation and how the two federal compensation systems for people harmed by vaccines differ.

    Apr 29, 2021

  • The U.S. Capitol Building in Washington, D.C., photo by lucky-photographer/Getty Images


    Summer Reading List for Congress

    During the August recess Hill staff should have an opportunity to step back from the fast pace of votes and hearing preparation to examine priorities for the fall and beyond. This list of must-read research and commentary covers some policy issues they will likely be addressing after the break.

    Aug 18, 2020

  • 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

  • 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

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


    Tapping Business Interruption Insurance Coverage to Assist Small Business During the Pandemic

    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

  • In this video, James M. Anderson speaks about the mission and history of the RAND Institute for Civil Justice.


    The RAND Institute for Civil Justice: 40 Years

    For 40 years, the RAND Institute for Civil Justice has supplied government and private decisionmakers and the public with the results of objective, empirically based, analytic research.

    Dec 12, 2019

  • 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

  • Chairman of the Joint Chiefs of Staff General Martin Dempsey,Navy Memorial,Navy Yard Shooting,Secretary of Defense Chuck Hagel


    Americans' Hearts, But Not Necessarily Wallets, Will Be Open for Victims of Navy Yard Shootings

    Comparisons are already being drawn between Monday's terrible events in the Washington Navy Yard and other recent high profile mass shootings. However, one way in which this shooting may differ from other events is in who — if anybody — provides financial compensation for those who are injured.

    Sep 18, 2013

  • A destroyed home in Moore, OK, where an F5 tornado struck on May 20, 2013

    News Release

    RAND Launches Center to Study Ways to Manage Catastrophic Risk and Compensate Victims

    The RAND Corporation has created a new research center that will analyze different approaches to compensating individuals, businesses, and others following catastrophes ranging from natural disasters to terrorist attacks.

    Jun 24, 2013

  • A man under an umbrella while it's raining percentage symbols

    News Release

    RAND Corporation, Risk Management Solutions Launch New Company to Develop Liability Insurance Tools

    The RAND Corporation, Risk Management Solutions, Inc. (RMS) and private investors have launched a company named Praedicat, Inc., that will provide consulting services and software to the property and casualty insurance industries.

    Mar 14, 2012

  • News Release

    News Release

    Residential Wind, Flood Insurance Markets Still Face Serious Problems 5 Years After Hurricane Katrina

    Five years after Hurricane Katrina devastated the Gulf Coast, neither the federal government nor the private sector is any closer to developing effective solutions to the problems facing flood and windstorm insurance.

    Oct 20, 2010

  • News Release

    News Release

    RAND Study Finds Wind Insurance Costly and Scarce on Gulf of Mexico Coast

    RAND Study Finds Wind Insurance Costly and Scarce on Gulf of Mexico Coast.

    Jul 18, 2007

  • Report


    Wind Insurance Costly and Scarce on Gulf of Mexico Coast

    Many businesses along the Gulf of Mexico coast have had a difficult time obtaining wind insurance coverage since Hurricanes Katrina, Rita, and Wilma hit in 2005 and have often ended up paying more than twice as much for the insurance as they did previously.

    Jul 15, 2007

  • Report


    More on insurance and catastrophic events: can we expect de facto limits on liability recoveries?

    Reviews large technological systems to locate situations that have potential for catastrophes in which liabilities exceed insurance or assets, thereby imposing de facto limits on liability recoveries. Such events as an LNG explosion in a population ...

    Jan 1, 1978

  • Report


    Some comments on de facto limits on liability

    An overview of large technological systems in society to ascertain the prevalence of situations that can lead to catastrophic effects where the resultant liabilities far exceed the insurance or assets subject to suit in court, thereby imposing de fac...

    Jan 1, 1977

  • People


    Graham Andrews

    Assistant Policy Researcher; Ph.D. Candidate, Pardee RAND Graduate School
    Education M.P.A. in public policy, University of Washington; B.S. in computer science, University of Redlands

  • People


    Alejandro U. Becerra-Ornelas

    Assistant Policy Researcher; Ph.D. Candidate, Pardee RAND Graduate School
    Education M.Phil. in policy analysis and economics, Pardee RAND Graduate School; B.A. in policy analysis, Center for Research and Teaching in Economics (CIDE)

  • People


    R. J. Briggs

    Economist; Professor of Policy Analysis, Pardee RAND Graduate School
    Education B.A.S. in economics, UC Davis; B.A.S. in mathematics, UC Davis; Ph.D. in economics, University of Texas