Policy watch
Subtitle: challenges for terrorism risk insurance in the United States
By: Howard Kunreuther, Erwann Michel-Kerjan.
Contributors: Michel-Kerjan, Erwann.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10870; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10870.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Terrorism insurance -- United States.
Description: "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 that provides up to $100 billion commercial coverage with a specific but temporary risk-sharing arrangement between the federal government and insurers.  TRIA%u2019s three-year term ends December 31, 2005, so Congress soon has to determine whether it should be renewed, whether an alternative terrorism insurance program should be substituted for it, or whether insurance coverage is left solely in the hands of the private sector.  As input into this process, the paper examines several alternatives and scenarios, and discusses their potential to create a sustainable terrorism insurance program in the Unites States"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 1/4/2005.
Also available in print.
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Mode of access: World Wide Web.