The Federal Role in Terrorism Insurance. Evaluating Alternatives in an Uncertain World

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (15 download)

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Book Synopsis The Federal Role in Terrorism Insurance. Evaluating Alternatives in an Uncertain World by :

Download or read book The Federal Role in Terrorism Insurance. Evaluating Alternatives in an Uncertain World written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Federal Role in Terrorism Insurance

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Publisher : Rand Corporation
ISBN 13 : 9780833044334
Total Pages : 148 pages
Book Rating : 4.0/5 (443 download)

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Book Synopsis The Federal Role in Terrorism Insurance by : Lloyd Dixon

Download or read book The Federal Role in Terrorism Insurance written by Lloyd Dixon and published by Rand Corporation. This book was released on 2007-10-23 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Terrorism Risk Insurance Program

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Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Terrorism Risk Insurance Program by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book The Terrorism Risk Insurance Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2006 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Issues and Options for Government Intervention in the Market for Terrorism Insurance

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Publisher : Rand Corporation
ISBN 13 : 9780833037015
Total Pages : 37 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Issues and Options for Government Intervention in the Market for Terrorism Insurance by : Lloyd S. Dixon

Download or read book Issues and Options for Government Intervention in the Market for Terrorism Insurance written by Lloyd S. Dixon and published by Rand Corporation. This book was released on 2004 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the 9/11 terrorist attacks, the federal government adopted the Terrorism Risk Insurance Act (TRIA), which requires insurers to make terrorism coverage available to commercial policyholders. In exchange, the federal government will reimburse insurers for a portion of insured losses above a particular threshold. This paper frames the central issues in the debate over whether to extend, modify, or end TRIA, and explores the role of disaster insurance within a system for managing risks created by the possibility of terrorist attacks and compensating losses caused by those attacks.

The Future of Terrorism Insurance

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Publisher :
ISBN 13 :
Total Pages : 256 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis The Future of Terrorism Insurance by : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises

Download or read book The Future of Terrorism Insurance written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2006 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Examining a legislative solution to extend and revise the Terrorism Risk Insurance Act (TRIA)

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ISBN 13 :
Total Pages : 224 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis 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

Download or read book Examining a legislative solution to extend and revise the Terrorism Risk Insurance Act (TRIA) written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2007 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Need to Extend the Terrorism Risk Insurance Act

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Publisher :
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis 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

Download or read book The Need to Extend the Terrorism Risk Insurance Act written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2007 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Impact on Federal Spending of Allowing the Terrorism Risk Insurance Act to Expire

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Publisher :
ISBN 13 : 9780833086365
Total Pages : 16 pages
Book Rating : 4.0/5 (863 download)

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Book Synopsis The Impact on Federal Spending of Allowing the Terrorism Risk Insurance Act to Expire by : Tom LaTourrette

Download or read book The Impact on Federal Spending of Allowing the Terrorism Risk Insurance Act to Expire written by Tom LaTourrette and published by . This book was released on 2014 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Protecting Americans from Catastrophic Terrorism Risk

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Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Protecting Americans from Catastrophic Terrorism Risk by : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises

Download or read book Protecting Americans from Catastrophic Terrorism Risk written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2007 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Policy Options for Extending the Terrorism Risk Insurance Act (TRIA)

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Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis 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

Download or read book Policy Options for Extending the Terrorism Risk Insurance Act (TRIA) written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2007 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Terrorist Risk Insurance

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Publisher :
ISBN 13 :
Total Pages : 228 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Terrorist Risk Insurance by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book Terrorist Risk Insurance written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2002 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reauthorizing TRIA

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ISBN 13 :
Total Pages : 132 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Reauthorizing TRIA by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book Reauthorizing TRIA written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2014 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Terrorism Risk Insurance Program Reauthorization Act of 2014

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ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Terrorism Risk Insurance Program Reauthorization Act of 2014 by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book Terrorism Risk Insurance Program Reauthorization Act of 2014 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2014 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Terrorism Risk Insurance Act

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Publisher : Hillcrest Publishing Group
ISBN 13 : 1634137930
Total Pages : 218 pages
Book Rating : 4.6/5 (341 download)

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Book Synopsis The Terrorism Risk Insurance Act by : Jason M. Schupp

Download or read book The Terrorism Risk Insurance Act written by Jason M. Schupp and published by Hillcrest Publishing Group. This book was released on 2016 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the outset, the Terrorism Risk Insurance Act program succeeded in making terrorism insurance widely available to US businesses and local governments without jeopardizing the long-term sustainability of the insurance industry.Nearly a decade and a half later, the Terrorism Risk Insurance Act remains an essential part of our national strategy for economic security and resilience in the face of terrorism. Over that time, however, knowledge of the program has steadily eroded as many who were involved in the program's early years have moved on or retired.The Terrorism Risk Insurance Act: A Practitioner's Guide assists today's insurance professional to bridge this gap through a comprehensive explanation of each of the elements of the program reinforced through practical examples. Each chapter concludes with a description of processes, controls, and testing that practitioners may consider to maximize potential recoveries under the program and build reliable evidence of compliance.

Examining the Terrorism Risk Insurance Program

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Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Examining the Terrorism Risk Insurance Program by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Download or read book Examining the Terrorism Risk Insurance Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Issues and Options for Government Intervention in the Market for Terrorism Insurance

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (742 download)

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Book Synopsis Issues and Options for Government Intervention in the Market for Terrorism Insurance by :

Download or read book Issues and Options for Government Intervention in the Market for Terrorism Insurance written by and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Protecting Policyholders from Terrorism

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Publisher :
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Protecting Policyholders from Terrorism by : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises

Download or read book Protecting Policyholders from Terrorism written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2001 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: