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

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

    Apr 10, 2020

    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?

  • Emergency workers float along an oil collection boom in front of Athos I after it spilled 30,00 gallons of crude oil into the Delaware River in Philadelphia, November 28, 2004, photo by Tim Shaffer/Reuters

    The Benefits and Drawbacks of Early Assistance After Disasters

    Nov 14, 2019

    After human-made disasters, early assistance from potentially responsible parties can sometimes fill gaps that are not always addressed by NGOs and first responders. But is providing such assistance a good strategy in terms of reducing future litigation or improving public opinion?

  • 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

    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.

  • Legal gavel and leather binder on a desk

    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.

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