What insurance and financial risk management practices do state and local governments employ for buildings, contents, vehicles, and equipment, and what role does Federal Emergency Management Agency assistance play in these decisions?
From closed courts to increased risk for first responders, the COVID-19 pandemic has introduced new challenges for the justice system. RAND research provides insights that may be helpful as decisionmakers try and address some of these issues.
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?
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.
What are alternative means of assigning responsibility following a catastrophic event and providing just compensation? How might policymakers respond after a major adverse event should they conclude traditional civil litigation is not the best approach?
Man-made and natural disasters in the United States can cause personal injury and property damage to dozens, and sometimes even thousands, of people. Sometimes victim compensation programs are created afterwards. Program designers must consider fairness to victims, timely compensation, and low transaction costs.
To inform the debate on whether the Terrorism Risk Insurance Act (TRIA) should be continued or allowed to expire, RAND prepared policy briefs on three topics of central concern to policymakers: national security perspectives, the impact on federal spending, and the impact on workers' compensation markets.
The 10th anniversary of the 9/11 terrorist attacks warrants a thoughtful review of America's progress and future strategy. In this RAND Review cover story, RAND experts offer perspectives on Afghan-led solutions, ways to counter al Qaeda, air passenger security, and compensation for those affected by terrorism.
High take-up rates for terrorism insurance or other forms of compensation for terrorism losses can enhance economic resilience after an attack and encourage national cohesion and solidarity post-event. Doing so thwarts the aims of terrorists and, over the long run, may deter future attacks.
The Terrorism Risk Insurance Act (TRIA) creates an effective mechanism for sharing the financial risk that businesses face from terrorism. Still, less than half of all businesses have terrorism insurance; the U.S. government should consider encouraging these businesses to buy coverage.
The terrorism insurance system in the United States is failing to provide businesses with adequate financial protection, leaving the nation vulnerable to economic disruption if there is a major terrorist attack.