Business Week's Michael Orey reports (scroll down) that "social scientists at think tank Rand are teaming with RMS [Risk Management Solutions, a California-based firm] to see if data drawn from court files and insurance records can help predict 'L-Cats,' or liability catastrophes,", defined as liability-driven financial exposures above $100 million. The project will take up to three years, and Rand is interested in the policy implications, while RMS "hopes to sell its findings" to liability insurers (via PrismLegal blog).