The RAND Corporation convened a May 12, 2010 Round Table meeting in Washington DC, entitled "Directors as the Guardians of Ethics and Compliance Within the Corporate Citadel: What the Policy Community Needs to Know." The purpose of the meeting was to generate a broad conversation about the role of directors and boards in C&E oversight, and the challenges and opportunities facing directors in this regard.
Institute for Civil Justice Publications
The RAND Institute for Civil Justice uses empirical and objective research methods to search out the root causes of system problems and identify the best fixes. We find common ground among adversaries, and interpret findings for policymakers. Our work aims to make the system more efficient and equitable for all, protecting society from the economic and social costs of a system that could become arbitrary and capricious.
Browse by Topic
- Administration of Justice
- Alternative Dispute Resolution
- Asbestos Litigation
- Automobile Personal Injury Compensation
- Catastrophic Risk Management
- Class Actions and Mass Torts
Browse ICJ Publications
Evidence suggests that arbitration clauses, though common in consumer contracts, are uncommon in commercial contracts, but research on why this may be so is scant. This report presents the findings of a survey and follow-up interviews of corporate counsel that sought to determine their thinking on domestic business-to-business arbitration and its use as an alternative to litigation.
There is a strong expectation by the U.S. Sentencing Commission (USSC) for boards to be directly involved in compliance and ethics (C&E) oversight, and the reporting relationship between the board and the manager of the compliance and ethics function, the Chief Ethics and Compliance Officer (CECO) is viewed as central to that responsibility.
In light of what occurred after Katrina and the other 2004-2005 hurricanes, the authors propose goals for an effective Gulf Coast residential insurance market and highlight policy reforms that warrant consideration for achieving those goals.
Residential Insurance on the U.S. Gulf Coast in the Aftermath of Hurricane Katrina: A Framework for Evaluating Potential Reforms 2010
The residential insurance market along the U.S. Gulf Coast has not functioned well since the devastating 2004 and 2005 hurricane seasons. Policymakers, deeply divided about how to improve the system, have been unable to build consensus for reform. This paper aims to inform the current policy debate by diagnosing the problems confronting residential insurance markets and outlining policy responses that merit consideration.
This paper adds to the debate on the relation between economic conditions and terrorism bystudying the intensive rather than the extensive margin of terrorism.
Earthquake Insurance and Disaster Assistance: The Effect of Catastrophe Obligation Guarantees on Federal Disaster-Assistance Expenditures in California 2010
The Catastrophe Obligation Guarantee Act, introduced in Congress in 2009, would authorize the federal government to provide committed loan guarantees to qualified state catastrophe-insurance programs. Proponents argue that lower-cost catastrophe insurance could reduce federal disaster-assistance expenditures. This report estimates the law's potential effects in California.
Directors as Guardians of Compliance and Ethics Within the Corporate Citadel: What the Policy Community Should Know 2010
RAND convened a symposium on the perspective and role of corporate boards of directors in overseeing their firms' ethics and compliance matters. These conference proceedings summarize the event and the discussions, which focused on oversight challenges that directors face, board responsibility for corporate culture, and steps that business leaders and policymakers might take to better encourage and empower directors in their oversight role.
Asbestos Bankruptcy Trusts: An Overview of Trust Structure and Activity with Detailed Reports on the Largest Trusts 2010
This report describes the creation, organization, and operation of asbestos personal-injury trusts and compiles publicly available information on the assets, outlays, and governing boards of the 26 largest trusts. The authors find that the publicly available information provides a rich source of information on trust activity but that more detailed information is needed to determine their impact on important compensation outcomes.
Provides an overview of U.S. alternative or “third-party” financing: describes the main types of financing, reviews arguments to limit this activity, begins to analyze its effects on litigation, and suggests lessons for policymakers.