Terrorism Risk Insurance Act: Analyses of Data, Market and Program Issues

$185.00

Ernie L. Duke (Editor)

Series: Terrorism, Hot Spots and Conflict-Related Issues
BISAC: POL037000

Prior to the September 11, 2001 terrorist attacks, 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 expensive if offered at all. Because insurance is required for a variety of transactions, it was feared that the absence of insurance against terrorism loss would have a wider economic impact.

Terrorism insurance was largely unavailable for most of 2002, and some have argued that this adversely affected parts of the economy. This book evaluates the extent of available data on terrorism insurance and Treasury’s efforts in determining federal exposure; changes in the terrorism insurance market since 2002; potential impacts of selected changes to the Terrorism Risk Insurance Act (TRIA).
(Imprint: Nova)

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Table of Contents

Table of Contents

Preface

Chapter 1 – Terrorism Risk Insurance: Issue Analysis and Overview of Current Program (pp. 1-18)
Baird Webel

Chapter 2 – Terrorism Insurance: Treasury Needs to Collect and Analyze Data to Better Understand Fiscal Exposure and Clarify Guidance (pp. 19-64)
United States Government Accountability Office

Chapter 3 – The Long-Term Availability and Affordability of Insurance for Terrorism Risk (pp. 65-104)
President’s Working Group on Financial Markets

Chapter 4 – Memorandum for the Hearing on ”The Future of Terrorism Insurance: Fostering Private Market Innovation to Limit Taxpayer Exposure” (pp. 105-108)

Chapter 5 – Testimony of Sean McGovern, Director, Risk Management and General Counsel, Lloyd’s of London. Hearing on ”The Future of Terrorism Insurance: Fostering Private Market Innovation to Limit Taxpayer Exposure” (pp. 109-114)

Chapter 6 – Testimony of Kean Driscoll, Chief Executive Officer, Validus Re. Hearing on ”The Future of Terrorism Insurance: Fostering Private Market Innovation to Limit Taxpayer Exposure” (pp. 115-118)

Chapter 7 – Testimony of Ernest N. Csiszar, Former Director of Insurance, State of South Carolina. Hearing on ”The Future of Terrorism Insurance: Fostering Private Market Innovation to Limit Taxpayer Exposure” (pp. 119-128)

Chapter 8 – Testimony of Dr. John S. Seo, Co-founder & Managing Principal, Fermat Capital Management, LLC. Hearing on ”The Future of Terrorism Insurance: Fostering Private Market Innovation to Limit Taxpayer Exposure” (pp. 129-134)

Chapter 9 – Testimony of Robert P. Hartwig, President and Economist, Insurance Information Institute. Hearing on ―The Future of Terrorism Insurance: Fostering Private Market Innovation to Limit Taxpayer Exposure (pp. 135-154)

Index

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