Catastrophic Liability Risk Management

Report

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.

Blog

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.

Commentary

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.

Commentary

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?

Commentary

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?

Commentary

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.

Commentary

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.

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.

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.

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.

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.

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.

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 ...

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...

People

Graham Andrews

People

Lloyd Dixon

People

Bethany Saunders-Medina