Trends In Terrorism Threats To The United States And The Future Of The Terrorism Risk Insurance Act
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Trends In Terrorism Threats To The United States And The Future Of The Terrorism Risk Insurance Act
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Author :
language : en
Publisher:
Release Date : 2005
Trends In Terrorism Threats To The United States And The Future Of The Terrorism Risk Insurance Act written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
The Terrorism Risk Insurance Act of 2002 (TRIA) was crafted in the aftermath of the 9/11 attacks after the insurance industry, stung by $32 billion in damage claims (by current estimates) and fearing another attack of equal magnitude, began to exclude terrorism coverage from policies. The legislation requires insurance companies to make terrorism insurance available to customers and, in return, provides federal reinsurance (a "backstop") for losses from terrorist attacks. It is intended to give insurers time to assess their exposure to terrorism risk and to consider how to price and underwrite the risk. TRIA is set to expire at the end of December 2005. TRIA embodies federal policy that a private insurance market will provide the foundation of the financial recovery from future terrorist attacks. It also recognizes that since the risk is unfamiliar to the industry, federal government assistance should, at least in the short run, be made available to support this market. In this book, we examine whether this policy and, in particular, the architecture of TRIA provide robust protection against the threat of losses from future attacks. By robust, we ask specifically whether the structure of TRIA is in line with the fundamental qualities of the risk of terrorism and with likely evolving trends in this threat. The focus of the analysis is on developments that have relevance for terrorist attacks taking place within the borders of the continental United States and the extent to which they are addressed (or not) by the TRIA framework.
Trends In Terrorism
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Author : Peter Chalk
language : en
Publisher: Rand Corporation
Release Date : 2005
Trends In Terrorism written by Peter Chalk and has been published by Rand Corporation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Political Science categories.
Providing a description of the evolving terrorist threat, this book's goal is to compare the underlying risk of attack to the architecture of financial protection that has been facilitated by the Terrorism Risk Insurance Act (TRIA). The Terrorism Risk Insurance Act (TRIA) requires insurers to offer commercial insurance that will pay on claims that occur from a terrorist attack, and for losses on the scale of 9/11, TRIA provides a backstop in the form of free reinsurance. The authors describe the evolving terrorist threat with the goal of comparing the underlying risk of attack to the architecture of financial protection that has been facilitated by TRIA.
National Security Perspectives On Terrorism Risk Insurance In The United States
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Author : Henry H. Willis
language : en
Publisher:
Release Date : 2014
National Security Perspectives On Terrorism Risk Insurance In The United States written by Henry H. Willis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Risk (Insurance) categories.
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.
Reauthorizing Tria
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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
language : en
Publisher:
Release Date : 2014
Reauthorizing Tria written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Terrorism insurance categories.
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.
Terrorism Threats And The Insurance Market
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Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
language : en
Publisher:
Release Date : 2007
Terrorism Threats And The Insurance Market written by United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations 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.
Examining The Terrorism Risk Insurance Program
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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
language : en
Publisher:
Release Date : 2009
Examining The Terrorism Risk Insurance Program written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
Examining A Legislative Solution To Extend And Revise 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
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 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.
Future Of Insuring Terrorism Risks
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Author : United States. Congress. Senate. Committee on Commerce, Science, and Transportation
language : en
Publisher:
Release Date : 2004
Future Of Insuring Terrorism Risks written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
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.