Terrorism Insurance


Terrorism Insurance
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Initial Results On Availability Of Terrorism Insurance In Specific Markets


Initial Results On Availability Of Terrorism Insurance In Specific Markets
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Author : Yvonne D. Jones
language : en
Publisher: DIANE Publishing
Release Date : 2009-02

Initial Results On Availability Of Terrorism Insurance In Specific Markets written by Yvonne D. Jones and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02 with Business & Economics categories.


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.



Terrorism Insurance


Terrorism Insurance
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Author : Yvonne D. Jones
language : en
Publisher: DIANE Publishing
Release Date : 2009-03-01

Terrorism Insurance written by Yvonne D. Jones and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-01 with Insurance categories.


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.



The Federal Role In Terrorism Insurance


The Federal Role In Terrorism Insurance
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Author : Lloyd Dixon
language : en
Publisher: Rand Corporation
Release Date : 2007-10-23

The Federal Role In Terrorism Insurance written by Lloyd Dixon and has been published by Rand Corporation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-10-23 with Law categories.


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.



Issues And Options For Government Intervention In The Market For Terrorism Insurance


Issues And Options For Government Intervention In The Market For Terrorism Insurance
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Author : Lloyd S. Dixon
language : en
Publisher: Rand Corporation
Release Date : 2004

Issues And Options For Government Intervention In The Market For Terrorism Insurance written by Lloyd S. Dixon and has been published by Rand Corporation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Political Science categories.


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.



Issues And Options For Government Intervention In The Market For Terrorism Insurance


Issues And Options For Government Intervention In The Market For Terrorism Insurance
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Author :
language : en
Publisher:
Release Date : 2004

Issues And Options For Government Intervention In The Market For Terrorism Insurance written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Financial reinsurance categories.


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.



Terrorism Insurance


Terrorism Insurance
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Author : Orice M. Williams
language : en
Publisher: DIANE Publishing
Release Date : 2009-05

Terrorism Insurance written by Orice M. Williams and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05 with Business & Economics categories.


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.



Policy Issues In Insurance Terrorism Risk Insurance In Oecd Countries


Policy Issues In Insurance Terrorism Risk Insurance In Oecd Countries
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2005-07-05

Policy Issues In Insurance Terrorism Risk Insurance In Oecd Countries written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-07-05 with categories.


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.



Terrorism Risk Insurance


Terrorism Risk Insurance
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Author : Oscar A. Madsen
language : en
Publisher: Nova Science Publishers
Release Date : 2013

Terrorism Risk Insurance written by Oscar A. Madsen and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Risk (Insurance) categories.


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.



Policy Options For Extending The Terrorism Risk Insurance Act Tria


Policy Options For Extending The Terrorism Risk Insurance Act Tria
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Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
language : en
Publisher:
Release Date : 2007

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 has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.




The Future Of Terrorism Insurance


The Future Of Terrorism Insurance
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Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
language : en
Publisher:
Release Date : 2006

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 has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Terrorism insurance categories.