for the development of public-private partnerships, as recognized in November 2002 when the Terrorism Risk Insurance Act … provide some features of a more sustainable program for terrorism insurance in the U.S. after December 31, 2005 …This paper discusses new challenges we face with terrorism as a catastrophic risk by focusing on risk assessment, risk …

the seemingly failure of the private insurance market to provide coverage for terrorism losses after the attack on … government provision of terrorism insurance. The paper argues that mostly unfettered insurance and capital markets are capable of … governments can mitigate terrorism risk but also how governments might help finance future losses. This interest was buttressed by …

This paper examines the role that insurance has played in dealing with terrorism before and after September 11, 2001 …, by focusing on the distinctive challenges associated with terrorism as a catastrophic risk. The Terrorism Risk Insurance … Act of 2002 (TRIA) was passed by the U.S. Congress in November 2002, establishing a national terrorism insurance program …

Since the passage of the Terrorism Risk Insurance Act of 2002, corporate terrorism insurance is sold as a separate … and terrorism insurance. Using a unique dataset of insurance policies purchased by large U.S. firms, combined with … findings suggest that both are rather price inelastic and that corporate demand for terrorism insurance is significantly more …

insurance coverage against future terrorist attacks came into question. Concern over the potential adverse consequences of the … lack of availability of insurance against terrorist incidents led to calls for federal intervention in insurance markets … dramatically changed environment for terrorism risk, may provide benefits to the economy that exceed the direct and indirect costs …

This paper investigates the rationale for government intervention in the market for terrorism insurance, focusing on … rational terrorists. Government subsidies for terror insurance can discourage self-protection and limit the inefficiencies …

autarky, but also partial and full insurance can obtain, depending on the relative patience of agents and financial … intermediaries. Insurance can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with …

does not alter this result. We also show that the informationally constrained optimal insurance contract has a resetting …