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

Featured Research and Commentary

Allocating Costs for California Wildfires
Jul 24, 2019
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.
The Role of Health Care Liens in Litigation and Recovery
Nov 20, 2018
Third-party liens have increasingly become an issue in resolving mass litigation events. As lien rights grow, liens will almost certainly become more frequent and command a greater share of recovery funds.
How Wildfire Risks Impact California's Homeowners Insurance Market
Sep 5, 2018
Wildfire poses considerable risk to Californians, and the associated increases in home insurance prices can cause financial hardship for families. It's critical to understand how the insurance market is performing with regard to wildfire risk and how climate change may affect this performance.
Emerging Trends in Compensation for Widespread Losses
Dec 4, 2017
In a consumer society where widespread losses can easily occur, the processes and procedures for providing compensation to large numbers of claimants are very important. This conference explored issues that affect the speed, efficiency, and fairness with which the compensation system operates in the United States.