This paper summarizes the U.S. program for terrorism insurance, outlines its advantages and disadvantages, and … has the advantage of reducing the cost and increasing the availability of terrorism insurance. Some have criticized the … backstop. The program does not cover NBCR risk, and some types of insurance are excluded. In addition, the program does not …

The Terrorism Risk Insurance Act (TRIA), passed at the end of 2002, established a public-private partnership between … terrorism insurance to their commercial policyholders while providing insurers with free up-front financial protection up to … uninsurable, thus making terrorism insurance widely available and affordable. Overall premiums have been at about 2 to 6 percent …

studies have analyzed their impact on the foreign insurance industry through globally well-developed reinsurance transactions …. Interestingly, a mid-sized P/C insurance company, TAISEI Fire and Marine Insurance, went bankrupt on November 22, 2001, two months … methodology for both events, the attacks and the failure, we find that the Japanese stock market reacted to risks of the terrorism …

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 …

Since September 11, 2001, insurance markets have been struggling to adjust to new information about the magnitude of … risks posed by terrorism, and to the loss of tens of billions of dollars in reserves because of claims relating to the … September 11 attacks. Insurance coverage for terror-related losses has become more expensive and for some risks difficult or …