Terrorism Insurance

Author : Yvonne D. Jones
Publisher : DIANE Publishing
Page : 33 pages
File Size : 54,8 Mb
Release : 2009-02
Category : Business & Economics
ISBN : 9781437907780

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Initial Results on Availability of Terrorism Insurance in Specific Markets by Yvonne D. Jones Pdf

The terrorist attacks of 9/11, have resulted in insured losses of $32.5 billion. To help restore confidence and stability in property insurance markets, the Terrorism Risk Insurance Act of 2002 was passed under which the fed. gov¿t. assumed significant responsibility for the potential insured financial losses associated with future terrorist attacks. However, some remain concerned that there may still be gaps in coverage. There are concerns about the ability of policyholders located in large urban areas that are viewed as being at high risk of attack to obtain terrorism insurance coverage. This study determines if specific markets in the U.S. have any unique constraints on the amount of terrorism insurance available and to evaluate options to enhance coverage.

Author : Yvonne D. Jones
Publisher : DIANE Publishing
Page : 36 pages
File Size : 40,8 Mb
Release : 2009-03-01
Category : Insurance
ISBN : 9781437909975

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Terrorism Insurance by Yvonne D. Jones Pdf

The Terrorism Risk Insur. Act. (TRIA) specifies that the fed. gov¿t. assume financial responsibility for insured losses on commercial properties resulting from future terrorist attacks. While TRIA has been credited with stabilizing markets for terrorism insur. after 9/11, questions remain as to whether certain policyholders, esp. those located in large urban areas viewed as being at high risk of attack, may still face challenges in obtaining coverage. This study describes: (1) whether the availability of terrorism insurance for commercial properties is constrained in any geographic markets; (2) factors limiting insurers¿ willingness to provide coverage; and (3) advantages and disadvantages of selected public policy options to increase the availability of such insurance. Illus.

Author : Lloyd Dixon,Robert J. Lempert,Tom LaTourrette,Robert T. Reville
Publisher : Rand Corporation
Page : 148 pages
File Size : 54,9 Mb
Release : 2007-10-23
Category : Law
ISBN : 0833044338

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The Federal Role in Terrorism Insurance by Lloyd Dixon,Robert J. Lempert,Tom LaTourrette,Robert T. Reville Pdf

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 : Orice M. Williams
Publisher : DIANE Publishing
Page : 54 pages
File Size : 41,5 Mb
Release : 2009-05
Category : Business & Economics
ISBN : 9781437912401

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Terrorism Insurance by Orice M. Williams Pdf

The Terrorism Risk Insur. Act (TRIA) is credited with stabilizing insur. markets after the 9/11 attacks by requiring insurers to offer terrorism coverage to commercial property owners, and specifying that the fed. gov¿t. is liable for a large share of related losses. While TRIA covers attacks involving conventional weapons, insurers may use exceptions that may exclude coverage for attacks with nuclear, biological, chemical, or radiological (NBCR) weapons. This report reviews: (1) the extent to which insurers offer NBCR coverage; (2) factors that contribute to the willingness of insurers to provide NBCR coverage; and (3) policy options for expanding coverage for NBCR risks. Charts and tables.

Author : Anonim
Publisher : Unknown
Page : 48 pages
File Size : 52,7 Mb
Release : 2004
Category : Electronic
ISBN : OCLC:1049847001

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Issues and Options for Government Intervention in the Market for Terrorism Insurance by Anonim Pdf

The threat of terrorism poses a challenge for the U.S. insurance system: How can the system best insure against potential losses and compensate victims of attacks? Following the 9/11 attacks, the federal government adopted the Terrorism Risk Insurance Act (TRIA), which requires insurers to make terrorism coverage available to commercial policyholders. In return, TRIA guarantees that the public (i.e., the government) will reimburse insurers for 90 percent of losses from terrorism above certain thresholds. TRIA was intended to bolster the insurance industry against catastrophic payouts while the industry developed strategies and mechanisms to cope with the threat of terrorism. TRIA expires on December 31, 2005, but insurance policies (which typically last one year) will soon begin to be written that will expire after TRIA does. This paper has a dual purpose: to help frame the central issues that should be considered in the debate over whether to extend, modify, or end TRIA, and to explore the broader issue of the appropriate role of disaster insurance within a system for managing risks created by the possibility of terrorist attacks and compensating losses caused by terrorist attacks. The paper also discusses options that policymakers might consider in addressing these issues and goals against which various options can be evaluated. Although this paper focuses on insurance, it is important to note that insurance is only one part of an overall system for managing risks created by the possibility of terrorist attacks and compensating losses caused by terrorist attacks. Direct government compensation, the tort system, and charities can also play a role in this system.

Author : OECD
Publisher : OECD Publishing
Page : 290 pages
File Size : 49,9 Mb
Release : 2005-07-05
Category : Electronic
ISBN : 9789264008748

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Policy Issues in Insurance Terrorism Risk Insurance in OECD Countries by OECD Pdf

This book presents OECD policy conclusions and leading academic analysis on the financial management of terrorism risk nearly four years after the World Trade Centre attacks.

Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher : Unknown
Page : 192 pages
File Size : 54,8 Mb
Release : 2007
Category : Law
ISBN : PSU:000061493551

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The Need to Extend the Terrorism Risk Insurance Act by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Pdf

Author : Stephen J. Carroll,Tom LaTourrette,Brian G. Chow,Gregory S. Jones,Craig Martin
Publisher : Rand Corporation
Page : 153 pages
File Size : 45,9 Mb
Release : 2005-11-17
Category : Political Science
ISBN : 9780833041036

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Distribution of Losses From Large Terrorist Attacks Under the Terrorism Risk Insurance Act by Stephen J. Carroll,Tom LaTourrette,Brian G. Chow,Gregory S. Jones,Craig Martin Pdf

The pending expiration of the Terrorism Risk Insurance Act (TRIA) of 2002 is the impetus for this assessment of how TRIA redistributes terrorism losses. The authors find that the role of taxpayers is expected to be minimal in all but very rare cases and that, even with TRIA in place, a high fraction of losses would go uninsured in each of the attack scenarios examined.

Author : United States. General Accounting Office,United States. Congress. House. Committee on Financial Services
Publisher : DIANE Publishing
Page : 39 pages
File Size : 48,6 Mb
Release : 2004
Category : Risk (Insurance)
ISBN : 9781428938403

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Terrorism Insurance by United States. General Accounting Office,United States. Congress. House. Committee on Financial Services Pdf

Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 50,7 Mb
Release : 2004
Category : Financial reinsurance
ISBN : OCLC:74273699

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Issues and Options for Government Intervention in the Market for Terrorism Insurance by Anonim Pdf

The threat of terrorism poses a challenge for the U.S. insurance system: How can the system best insure against potential losses and compensate victims of attacks? Following the 9/11 attacks, the federal government adopted the Terrorism Risk Insurance Act (TRIA), which requires insurers to make terrorism coverage available to commercial policyholders. In return, TRIA guarantees that the public (i.e., the government) will reimburse insurers for 90 percent of losses from terrorism above certain thresholds. TRIA was intended to bolster the insurance industry against catastrophic payouts while the industry developed strategies and mechanisms to cope with the threat of terrorism. TRIA expires on December 31, 2005, but insurance policies (which typically last one year) will soon begin to be written that will expire after TRIA does. This paper has a dual purpose: to help frame the central issues that should be considered in the debate over whether to extend, modify, or end TRIA, and to explore the broader issue of the appropriate role of disaster insurance within a system for managing risks created by the possibility of terrorist attacks and compensating losses caused by terrorist attacks. The paper also discusses options that policymakers might consider in addressing these issues and goals against which various options can be evaluated. Although this paper focuses on insurance, it is important to note that insurance is only one part of an overall system for managing risks created by the possibility of terrorist attacks and compensating losses caused by terrorist attacks. Direct government compensation, the tort system, and charities can also play a role in this system.

Author : Oscar A. Madsen
Publisher : Nova Science Publishers
Page : 0 pages
File Size : 48,9 Mb
Release : 2013
Category : Risk (Insurance)
ISBN : 1626186979

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Terrorism Risk Insurance by Oscar A. Madsen Pdf

Prior to the 11 September 2011 terrorist attacks, insurance coverage for losses from such attacks was normally included in general insurance policies without specific cost to the policyholders. Following the attacks, such coverage became very expansive if insurers offered it at all. Because insurance is required for a variety of economic transactions, it was feared that the absence of insurance against terrorism loss would have a wider economic impact. Private terrorism insurance was largely unavailable for most of 2002 and some have argued that this adversely affected parts of the economy. Congress responded to the disruption in the terrorism insurance market by passing the Terrorism Risk Insurance Act of 2002 (TRIA). TRIA created a temporary three-year Terrorism Insurance Program in which the government would share some of the losses with private insurers should a foreign terrorist attack occur. This book analyses the TRIA program at ten years and the future of the terrorism risk insurance program.

Author : Miguel H. Palacios
Publisher : Nova Science Publishers
Page : 0 pages
File Size : 51,5 Mb
Release : 2009
Category : Risk (Insurance)
ISBN : 1607417944

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Terrorism Insurance by Miguel H. Palacios Pdf

This book looks at the issues involved with terrorism insurance and includes a side-by-side comparison of the previous law, the two House TRIA-extension bills, and the Senate bill that was ultimately signed by the President. Prior to the September 11, 2001 terrorist attacks, insurance covering terrorism losses was normally included in general insurance policies without additional cost to the policyholders. Following the attacks, both primary insurers and reinsurers pulled back from offering terrorism coverage. Congress responded to the disruption in the insurance market by passing the Terrorism Risk Insurance Act (TRIA) of 2002. TRIA created a temporary program to calm the insurance markets through a government backstop for terrorism losses. In addition to the continuing debate about TRIA, this book also discusses commonly accepted principles of insurability and whether nuclear, biological, chemical, or radiological (NBCR) risks are measurable and predictable and whether private insurers currently are exposed to NBCR risks and the challenges they face in pricing such risks.

Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher : Unknown
Page : 128 pages
File Size : 48,9 Mb
Release : 2007
Category : Business & Economics
ISBN : STANFORD:36105050460216

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Policy Options for Extending the Terrorism Risk Insurance Act (TRIA) by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Pdf

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 : 41,6 Mb
Release : 2007
Category : Business & Economics
ISBN : STANFORD:36105050467708

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Examining a legislative solution to extend and revise the Terrorism Risk Insurance Act (TRIA) by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Pdf

Author : Frederick Krimgold
Publisher : Unknown
Page : 236 pages
File Size : 44,9 Mb
Release : 2003
Category : Buildings
ISBN : UOM:39015059180441

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Insurance, Finance, and Regulation Primer for Terrorism Risk Management in Buildings by Frederick Krimgold Pdf