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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher : Unknown
Page : 216 pages
File Size : 49,7 Mb
Release : 2009
Category : Business & Economics
ISBN : UOM:39015090411755
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher : Unknown
Page : 224 pages
File Size : 42,6 Mb
Release : 2007
Category : Business & Economics
ISBN : STANFORD:36105050467708
Author : Lloyd Dixon,Robert J. Lempert,Tom LaTourrette,Robert T. Reville
Publisher : Rand Corporation
Page : 148 pages
File Size : 52,5 Mb
Release : 2007-10-23
Category : Law
ISBN : 0833044338
What are the Terrorism Risk Insurance Act's effects on the market for terrorism insurance? What would be the effect of enhancing provisions for nuclear, biological, chemical, and radiological (NBCR) attacks? The authors conclude that the program yields positive outcomes in a number of dimensions for conventional attacks and identify specific reforms that can improve results for NBCR attacks.
Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 43,8 Mb
Release : 2007
Category : Electronic
ISBN : OCLC:1050642902
Concerned that the unavailability of terrorism insurance would impede economic recovery and hinder growth after the 9/11 attacks, Congress passed the Terrorism Risk Insurance Act of 2002 "TRIA". TRIA will sunset at the end of 2007 unless Congress takes further action. This book examines the implications of allowing TRIA to expire and of enhancements aimed at improving the availability and affordability of insurance for nuclear, biological, chemical, and radiological "NBCR" attacks. The analysis takes a systematic approach to addressing the deep uncertainties that underlie the market for terrorism insurance and is the first study of TRIA to consider not just taxpayer payments through the program but also the cost of government compensation and assistance following a terrorist attack when analyzing the program's effect on government spending. The authors conclude that taxpayer cost is lower with TRIA than without TRIA across a broad range of assumptions about attack frequency and the proportion of uninsured losses that are compensated postattack. The analysis also cautions policymakers to be careful when modifying the program to better address NBCR attacks: Simply expanding the program to require insurers to offer NBCR coverage may not achieve the desired outcomes. The authors identify program changes that will produce positive results for both NBCR and conventional attacks that are robust to key underlying uncertainties.
Author : Henry H. Willis
Publisher : Unknown
Page : 21 pages
File Size : 48,9 Mb
Release : 2014
Category : Risk (Insurance)
ISBN : 0833085387
Congress enacted the Terrorism Risk Insurance Act (TRIA) in 2002, in response to terrorism insurance becoming unavailable or, when offered, extremely costly in the wake of the 9/11 attacks. The law provides a government reinsurance backstop in the case of a terrorist attack by providing mechanisms for avoiding an immediate drawdown of capital for insured losses or possibly covering the most extreme losses. Extended first in 2005 and again in 2007, TRIA is set to expire at the end of 2014, and Congress is again reconsidering the appropriate government role in terrorism insurance markets. This policy brief examines the potential national security implications of allowing TRIA to expire. Examining the history of terrorism in the United States since the passage of TRIA and reviewing counterterrorism studies, the authors find that terrorism remains a real national security threat, but one that is very difficult for insurers to model the risk of. They also find that terrorism risk insurance can contribute to making communities more resilient to terrorism events, so, to the extent that terrorism insurance is more available with TRIA than without it, renewing the legislation would contribute to improved national security.
Author : United States. Congress,United States House of Representatives,Committee on Financial Services
Publisher : Createspace Independent Publishing Platform
Page : 220 pages
File Size : 44,5 Mb
Release : 2018-01-25
Category : Electronic
ISBN : 1984184520
Examining a legislative solution to extend and revise the Terrorism Risk Insurance Act (TRIA) : hearing before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises of the Committee on Financial Services, U.S. House of Representatives, One Hundred Tenth Congress, first session, June 21, 2007.
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher : Unknown
Page : 207 pages
File Size : 52,9 Mb
Release : 2009
Category : Terrorism insurance
ISBN : OCLC:1037434066
Author : United States Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 54 pages
File Size : 44,7 Mb
Release : 2017-09-23
Category : Electronic
ISBN : 1977579558
number of countries have established national terrorism risk insurance programs to respond to market shortages for such insurance resulting from attacks either in their own or other countries. Many programs were created following the events of September 11, 2001, but some existed earlier. In 2002, the Terrorism Risk Insurance Act established a program to ensure the availability of terrorism risk insurance in the United States. The Terrorism Risk Insurance Program Reauthorization Act of 2015 includes a provision for GAO to review how other countries have structured and funded their terrorism risk insurance programs. This report compares the structures of and the role of government in selected foreign terrorism insurance programs and examines the loss-sharing arrangements between the government and private sector. Of the 16 programs identified through a literature review, GAO selected 6 representing a range of structures to examine in-depth-programs in Australia, Austria, India, Spain, the United Kingdom, and the United States. For the six programs, GAO reviewed program financial statements, annual reports, and documentation from the Organisation for Economic Co-operation and Development and interviewed officials from terrorism insurance programs, agencies, reinsurance companies, and trade associations. GAO makes no recommendations
Author : United States. Government Accountability Office
Publisher : Unknown
Page : 49 pages
File Size : 48,5 Mb
Release : 2016
Category : Terrorism insurance
ISBN : OCLC:946578569
A number of countries have established national terrorism risk insurance programs to respond to market shortages for such insurance resulting from attacks either in their own or other countries. Many programs were created following the events of September 11, 2001, but some existed earlier. In 2002, the Terrorism Risk Insurance Act established a program to ensure the availability of terrorism risk insurance in the United States. This report compares the structures of and the role of government in selected foreign terrorism insurance programs and examines the loss-sharing arrangements between the government and private sector. Of the 16 programs identified through a literature review, GAO selected 6 representing a range of structures to examine in-depth, programs in Australia, Austria, India, Spain, the United Kingdom, and the United States. For the six programs, GAO reviewed program financial statements, annual reports, and documentation from the Organisation for Economic Co-operation and Development and interviewed officials from terrorism insurance programs, agencies, reinsurance companies, and trade associations.
Author : Tom LaTourrette
Publisher : Unknown
Page : 16 pages
File Size : 44,5 Mb
Release : 2014
Category : National security
ISBN : 0833086367
Congress enacted the Terrorism Risk Insurance Act (TRIA) in 2002, in response to terrorism insurance becoming unavailable or, when offered, extremely costly in the wake of the 9/11 attacks. The law creates an incentive for a functioning private terrorism insurance market by providing a government reinsurance backstop for catastrophic terrorist attack losses. Extended first in 2005 and again in 2007, TRIA is set to expire at the end of 2014, and Congress is again considering the appropriate government role in terrorism insurance markets. This policy brief examines the potential federal spending implications of allowing TRIA to expire. Combining information on federal spending through TRIA, the influence of TRIA on the availability of terrorism insurance coverage, and the relationship between uninsured losses and federal disaster assistance spending, the authors find that, in the absence of a terrorist attack, TRIA costs taxpayers relatively little, and in the event of a terrorist attack comparable to any experienced before, it is expected to save taxpayers money.
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher : Unknown
Page : 224 pages
File Size : 44,7 Mb
Release : 2007
Category : Business & Economics
ISBN : PSU:000061515468
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher : Unknown
Page : 104 pages
File Size : 50,9 Mb
Release : 2005
Category : Terrorism insurance
ISBN : PSU:000058148082
Author : National Research Council,Committee to Review the Department of Homeland Security's Approach to Risk Analysis
Publisher : National Academies Press
Page : 160 pages
File Size : 52,5 Mb
Release : 2010-10-10
Category : Political Science
ISBN : 9780309159241
The events of September 11, 2001 changed perceptions, rearranged national priorities, and produced significant new government entities, including the U.S. Department of Homeland Security (DHS) created in 2003. While the principal mission of DHS is to lead efforts to secure the nation against those forces that wish to do harm, the department also has responsibilities in regard to preparation for and response to other hazards and disasters, such as floods, earthquakes, and other "natural" disasters. Whether in the context of preparedness, response or recovery from terrorism, illegal entry to the country, or natural disasters, DHS is committed to processes and methods that feature risk assessment as a critical component for making better-informed decisions. Review of the Department of Homeland Security's Approach to Risk Analysis explores how DHS is building its capabilities in risk analysis to inform decision making. The department uses risk analysis to inform decisions ranging from high-level policy choices to fine-scale protocols that guide the minute-by-minute actions of DHS employees. Although DHS is responsible for mitigating a range of threats, natural disasters, and pandemics, its risk analysis efforts are weighted heavily toward terrorism. In addition to assessing the capability of DHS risk analysis methods to support decision-making, the book evaluates the quality of the current approach to estimating risk and discusses how to improve current risk analysis procedures. Review of the Department of Homeland Security's Approach to Risk Analysis recommends that DHS continue to build its integrated risk management framework. It also suggests that the department improve the way models are developed and used and follow time-tested scientific practices, among other recommendations.
Author : Jayesh D'Souza
Publisher : CRC Press
Page : 234 pages
File Size : 42,5 Mb
Release : 2017-09-11
Category : Law
ISBN : 9781040080832
Tracking funding is a critical part of the fight against terrorism and as the threat has escalated, so has the development of financial intelligence units (FIUs) designed to investigate suspicious transactions. Terrorist Financing, Money Laundering, and Tax Evasion: Examining the Performance of Financial Intelligence Units provides a thorough analy
Author : Henry H. Willis,Andrew R. Morral,Terrence K. Kelly,Jamison Jo Medby
Publisher : Rand Corporation
Page : 93 pages
File Size : 42,8 Mb
Release : 2006-01-06
Category : Political Science
ISBN : 9780833040930
The Department of Homeland Security is responsible for protecting the United States from terrorism. It does so partly through the Urban Areas Security Initiative, though its distribution has been criticized for not reflecting risk. This monograph offers a practical definition of terrorism risk and a method for estimating it that addresses inherent uncertainties. It also demonstrates a framework for evaluating alternative risk estimates. Finally, it makes five recommendations for improving resource allocation.