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 …

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 …

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 …

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 …

evolved in response to terrorism in Britain. The paper also discusses the reasons why there is strong cooperation among the CT …

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 …

empirical analysis of firm behavior that compares corporate demand for property and catastrophe insurance (here, terrorism). We …Using a unique dataset of insurance decisions by over 1,800 large U.S. corporations, this study provides the first … decisions. The main finding is that demand for property and catastrophe insurance are not very different and that the demand for …

Theoretically, wealthier people should buy less insurance, and should self-insure through saving instead, as insurance … wealthier have better life and property insurance coverage. Wealth-related differences in background risk, legal risk, liquidity … constraints, financial literacy, and pricing explain only a small fraction of the positive wealth-insurance correlation. This …

Insurers are the largest institutional investors of corporate bonds. However, a standard theory of insurance markets …