Download or read book National Security Perspectives on Terrorism Risk Insurance in the United States written by Henry H. Willis and published by . This book was released on 2014-04 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress enacted the Terrorism Risk Insurance Act (TRIA) in 2002, in response to terrorism insurance becoming unavailable or, when offered, extremely costly in the wake of the 9/11 attacks. The law provides a government reinsurance backstop in the case of a terrorist attack by providing mechanisms for avoiding an immediate drawdown of capital for insured losses or possibly covering the most extreme losses. Extended first in 2005 and again in 2007, TRIA is set to expire at the end of 2014, and Congress is again reconsidering the appropriate government role in terrorism insurance markets. This policy brief examines the potential national security implications of allowing TRIA to expire. Examining the history of terrorism in the United States since the passage of TRIA and reviewing counterterrorism studies, the authors find that terrorism remains a real national security threat, but one that is very difficult for insurers to model the risk of. They also find that terrorism risk insurance can contribute to making communities more resilient to terrorism events, so, to the extent that terrorism insurance is more available with TRIA than without it, renewing the legislation would contribute to improved national security.

Download or read book Policy Watch written by Howard Kunreuther and published by . This book was released on 2012 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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's 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.

Download or read book Terrorism Risk Insurance written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-23 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: number of countries have established national terrorism risk insurance programs to respond to market shortages for such insurance resulting from attacks either in their own or other countries. Many programs were created following the events of September 11, 2001, but some existed earlier. In 2002, the Terrorism Risk Insurance Act established a program to ensure the availability of terrorism risk insurance in the United States. The Terrorism Risk Insurance Program Reauthorization Act of 2015 includes a provision for GAO to review how other countries have structured and funded their terrorism risk insurance programs. This report compares the structures of and the role of government in selected foreign terrorism insurance programs and examines the loss-sharing arrangements between the government and private sector. Of the 16 programs identified through a literature review, GAO selected 6 representing a range of structures to examine in-depth-programs in Australia, Austria, India, Spain, the United Kingdom, and the United States. For the six programs, GAO reviewed program financial statements, annual reports, and documentation from the Organisation for Economic Co-operation and Development and interviewed officials from terrorism insurance programs, agencies, reinsurance companies, and trade associations. GAO makes no recommendations

Download or read book Trends in Terrorism Threats to the United States and the Future of the Terrorism Risk Insurance Act written by and published by . This book was released on 2005 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Terrorism Risk Insurance Act of 2002 (TRIA) was crafted in the aftermath of the 9/11 attacks after the insurance industry, stung by $32 billion in damage claims (by current estimates) and fearing another attack of equal magnitude, began to exclude terrorism coverage from policies. The legislation requires insurance companies to make terrorism insurance available to customers and, in return, provides federal reinsurance (a "backstop") for losses from terrorist attacks. It is intended to give insurers time to assess their exposure to terrorism risk and to consider how to price and underwrite the risk. TRIA is set to expire at the end of December 2005. TRIA embodies federal policy that a private insurance market will provide the foundation of the financial recovery from future terrorist attacks. It also recognizes that since the risk is unfamiliar to the industry, federal government assistance should, at least in the short run, be made available to support this market. In this book, we examine whether this policy and, in particular, the architecture of TRIA provide robust protection against the threat of losses from future attacks. By robust, we ask specifically whether the structure of TRIA is in line with the fundamental qualities of the risk of terrorism and with likely evolving trends in this threat. The focus of the analysis is on developments that have relevance for terrorist attacks taking place within the borders of the continental United States and the extent to which they are addressed (or not) by the TRIA framework.

Download or read book Protecting Americans from Catastrophic Terrorism Risk written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2007 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Terrorism Risk Insurance written by United States. Government Accountability Office and published by . This book was released on 2016 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of countries have established national terrorism risk insurance programs to respond to market shortages for such insurance resulting from attacks either in their own or other countries. Many programs were created following the events of September 11, 2001, but some existed earlier. In 2002, the Terrorism Risk Insurance Act established a program to ensure the availability of terrorism risk insurance in the United States. This report compares the structures of and the role of government in selected foreign terrorism insurance programs and examines the loss-sharing arrangements between the government and private sector. Of the 16 programs identified through a literature review, GAO selected 6 representing a range of structures to examine in-depth, programs in Australia, Austria, India, Spain, the United Kingdom, and the United States. For the six programs, GAO reviewed program financial statements, annual reports, and documentation from the Organisation for Economic Co-operation and Development and interviewed officials from terrorism insurance programs, agencies, reinsurance companies, and trade associations.

Download or read book Terrorism and Homeland Security written by Dale L. June and published by CRC Press. This book was released on 2010-09-29 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 9/11, the terms homeland security and terrorism have become firmly entrenched in our lexicon. The days of walking through a simple metal detector at the airport are over, and our security landscape is forever changed. Terrorism and Homeland Security: Perspectives, Thoughts, and Opinions brings together the work of academic researchers and law

Download or read book Terrorism written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Terrorism, Technology, and Homeland Security and published by . This book was released on 2006 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Terrorism Threats and the Insurance Market written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-25 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Terrorism threats and the insurance market : joint hearing before the Subcommittee on Oversight and Investigations of the Committee on Financial Services and the Subcommittee on Intelligence, Information Sharing, and Terrorism Risk Assessment of the Committee on Homeland Security, U.S. House of Representatives, One Hundred Ninth Congress, second session, July 25, 2006.

Download or read book Terrorism Risk Insurance written by Daniel Garcia-Diaz and published by . This book was released on 2016-05-25 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some countries have established national terrorism risk insurance programs to respond to market shortages for such insurance resulting from attacks either in their own or other countries. Many programs were created following the events of September 11, 2001, but some existed earlier. In 2002, the Terrorism Risk Insurance Act established a program to ensure the availability of terrorism risk insurance in the U.S. The Terrorism Risk Insurance Program Reauthorization Act of 2015 mandated this report on how other countries have structured and funded their terrorism risk insurance programs. It compares the structures of and the role of government in selected foreign terrorism insurance programs and examines the loss-sharing arrangements between the government and the private sector. Tables and figures. This is a print on demand report.

Download or read book Estimating Terrorism Risk written by Henry H. Willis and published by Rand Corporation. This book was released on 2006-01-06 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Homeland Security is responsible for protecting the United States from terrorism. It does so partly through the Urban Areas Security Initiative, though its distribution has been criticized for not reflecting risk. This monograph offers a practical definition of terrorism risk and a method for estimating it that addresses inherent uncertainties. It also demonstrates a framework for evaluating alternative risk estimates. Finally, it makes five recommendations for improving resource allocation.

Download or read book Terrorism Risk Insurance Market Challenges May Exist for Current Structure and Alternative Approaches written by United States. Government Accountability Office and published by . This book was released on 2017 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: "After the terrorist attacks of September 11, 2001, insurers generally stopped covering terrorism risk because losses could be too high relative to the premiums they could charge. Congress enacted TRIA to share losses from a certified act of terrorism between insurers and the government, address market disruptions, and help ensure widespread availability and affordability of terrorism coverage. TRIA does not include an up-front federal charge for the government's share of potential losses. The act mandates that, when private industry's losses are below a certain amount, the federal government recoups some or all of the federal share of losses through policyholder surcharges. The Terrorism Risk Insurance Program Reauthorization Act of 2015 includes a provision for GAO to review alternative funding approaches for TRIA. Among other things, this report examines (1) how insurers manage their terrorism exposure and federal recoupment of losses, (2) how alternative funding approaches could be designed and implemented, and (3) the potential effects of these approaches as well as the current structure. To assess these funding approaches, GAO reviewed related studies, analyzed several terrorism loss scenarios for each funding approach to estimate potential effects on market participants, and interviewed industry participants"--Preliminary page.

Download or read book Terrorism Risk Assessment at the Department of Homeland Security written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-26 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Terrorism risk assessment at the Department of Homeland Security : hearing before the Subcommittee on Intelligence, Information Sharing, and Terrorism Risk Assessment of the Committee on Homeland Security, House of Representatives, One Hundred Ninth Congress, first session, November 17, 2005.

Download or read book The Impact on Federal Spending of Allowing the Terrorism Risk Insurance Act to Expire written by Tom LaTourrette and published by . This book was released on 2014-04 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress enacted the Terrorism Risk Insurance Act (TRIA) in 2002, in response to terrorism insurance becoming unavailable or, when offered, extremely costly in the wake of the 9/11 attacks. The law creates an incentive for a functioning private terrorism insurance market by providing a government reinsurance backstop for catastrophic terrorist attack losses. Extended first in 2005 and again in 2007, TRIA is set to expire at the end of 2014, and Congress is again considering the appropriate government role in terrorism insurance markets. This policy brief examines the potential federal spending implications of allowing TRIA to expire. Combining information on federal spending through TRIA, the influence of TRIA on the availability of terrorism insurance coverage, and the relationship between uninsured losses and federal disaster assistance spending, the authors find that, in the absence of a terrorist attack, TRIA costs taxpayers relatively little, and in the event of a terrorist attack comparable to any experienced before, it is expected to save taxpayers money.

Download or read book Trends in Terrorism written by and published by . This book was released on 2005 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Terrorism Risk Insurance Act (TRIA) requires insurers to offer commercial insurance that will pay on claims that occur from a terrorist attack, and for losses on the scale of 9/11, TRIA provides a "backstop" in the form of free reinsurance. The authors describe the evolving terrorist threat with the goal of comparing the underlying risk of attack to the architecture of financial protection that has been facilitated by TRIA.

Download or read book Preparing for the Psychological Consequences of Terrorism written by Institute of Medicine and published by National Academies Press. This book was released on 2003-08-26 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oklahoma City bombing, intentional crashing of airliners on September 11, 2001, and anthrax attacks in the fall of 2001 have made Americans acutely aware of the impacts of terrorism. These events and continued threats of terrorism have raised questions about the impact on the psychological health of the nation and how well the public health infrastructure is able to meet the psychological needs that will likely result. Preparing for the Psychological Consequences of Terrorism highlights some of the critical issues in responding to the psychological needs that result from terrorism and provides possible options for intervention. The committee offers an example for a public health strategy that may serve as a base from which plans to prevent and respond to the psychological consequences of a variety of terrorism events can be formulated. The report includes recommendations for the training and education of service providers, ensuring appropriate guidelines for the protection of service providers, and developing public health surveillance for preevent, event, and postevent factors related to psychological consequences.

Download or read book Terrorism written by Robert A. Friedlander and published by Dobbs Ferry, N.Y. : Oceana Publications, 1979-c1981.. This book was released on 1979 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: This series is an extensive collection of significant documents covering all major and minor issues and events regarding terrorism. Government reports, executive orders, speeches, court proceedings, and position papers are presented in full text reprint. The entire set records and explains terrorism as it has evolved over 25 years. It examines the efforts of Western societies to safely combat conventional and unconventional terrorist attacks the world over,including those in: Israel, Northern Ireland, Lebanon, Central and South America, Western Europe, The United Kingdom, and The United States. It illustrates the evolution of international law regarding: The definition of terrorism The prosecution and sentencing of terrorists Extradition of international criminals Enforcement of the death penalty Definitions of cruel and unusual punishment Cyberterrorism Weapons of mass destruction Biological and chemical agents Asylum for politically-motivated terrorists Terrorist use of the mediaIncluded are detailed reports from several organizations on terrorist groups, their activities, weapons acquisition, technical capabilities, state sponsorship, political ideology and targets. The set also offers investigative reports of major terrorist related incidents. The examination of terrorist incidents in this set establishes the necessity for package inspections, explosive detection, anti-terrorism personnel, and related programs. It also examines expansion of these measures and policies from air transport facilities to other transportation centers - such as train stations, bus terminals, toll plazas, border crossings, and mail service facilities. Documents are provided to illustrate ongoing attempts to control and prevent terror-violence from the U.S., U.N., U.K., France, the European Council, Interpol, and other active groups. The set is thorough regarding the development of strategies for handling kidnappings, hostage situations, bombings, assassinations, and unconventional attacks. The series may be purchased as a whole, or a new subscription may be started by purchasing the most recently published volume. The series may also be purchased in part from Volumes 1 to 13, or a subscription may be started from any volume, after Volume 14, to the current volume. Volumes 1-13Contain commentary and primary source documents that establish an historical context for developments in terrorism. Commentary presents an historical overview of 19th and 20th century terrorism, post WWII developments, and comments on the future of terrorism. Documents include U.N. resolutions, declarations, conventions and reports, League of National Council debates, International Tribunal Documents, and U.S. judicial and legislative actions. Volume 14 Concentrates on terrorism documents in the U.S. Includes detailed information from the Congressional Research Service and a document which assesses the Writ of Habeas Corpus under newly passed legislation. Volume 15 Takes an in-depth look at the terrorist attacks in Dar es Salaam and Nairobi. Includes significant Statements from President Clinton, The U.S./E.U. Statement of Shared Objective and Close Cooperation on Terrorism, analysis of the Paris Terrorism ministerial, and more. Volume 16 A compilation of materials from the Federal Bureau of Investigation and the Congressional Research Service, plus the indictment of Osama Bin Laden. Volume 17Expands the information in Volumes 15 and16 and records information on biological and chemical weapons preparedness and intelligence gathering by the Executive and Legislative braches of the U.S. government. Volume 18Examines the overall emergency preparedness of the U.S. and assesses the proliferation of weapons of mass destruction. Includes information on the electronic "Melissa" virus and a variety of documents on national terrorism prevention events. Volume 19Includes the U.S.Department of State''s report on Political Violence Against Americans and the GAO reports on Combating Terrorism, Information Security, and Chemical and Biological Defense. Volume 20A concentration on the complete FBI report on Project MEGIDDO as well as the CRS report on Afghanistan. Volume 21Includes the June 2000 report of the National Commission on Terrorism regarding the current state of international terror and its implications for the future. Features information from the FAA, congressional testimony by FBI personnel, reports on cyberterrorism, and the FALN clemency Volume 22Contains several GAO reports on combating terrorism with risk assessment, technology and strategy. Testimony included covers issues such as managing counterterrorist programs, U.S. counterterrorism efforts, Internet and data interception capabilities developed by the FBI, and the threat assessment of terrorism in a changing global environment. Volume 23Describes how U.S. Department of Justice has focused its attention on improving security at home and the implementation of measures at American missions abroad. Incorporates the Department of Defense''s Crouch-Gehman Report on the Cole attack, the CIA study on Global Trends and the Gilmore Report assessing domestic response capabilities involving weapons of mass destruction. Volume 24Incorporates governmental and nongovernmental views and documents on the forgoing cases as well as on unconventional threats of superterrorism (biological, chemical, and nuclear) and emerging cyber challenges. Includes documents of individual testimonies on the cases of USS Cole and Cyber. Volume 25Focuses on domestic and international terrorist threats. Includes proposals and recommendations on how to respond to the challenges both on the conventional and unconventional levels. Contains the perspectives of the Executive Branch and judicial documents of the U.S. v. Osama bin Laden et al., in the U.S. District Court, Southern District of New York, and the jury decisions rendered in this historic case. Volume 26Underscores the vulnerability of the U.S. both to conventional and unconventional threats. Focuses on these and similar threats and also presents a wide range of governmental, intergovernmental, and nongovernmental responses to these challenges. Considers the proposal to create a President''s council on domestic terrorism preparedness and a future outlook of the 27 challenges to U.S. homeland concerns. Volume 27Covers issues related to the terrorism threat both on conventional and unconventional levels - as well as on national regional, and global responses. Presents civil law suits against Iran, a state sponsor of terrorism, brought by several victims'' families before the U.S. federal district courts. Volume 28Includes materials prepared by the executive branch, legislative branch, Congressional testimony and the judicial branch. Volume 29Addresses elements of the diverse, speedy, broad and bipartisan responses engendered by the September 11th attack. Describes some of the basic responses taken by U.S. Volume 30Focuses on the views of U.S. as reflected in the documentation available from the executive legislative branches. Contains both the reports and testimony from several legislative hearings. The testimony segment covers a wide range of topics. Includes material reflecting the nature of the terrorist challenge to civilization and the responses available to reduce the risks both in all levels. Volume 31 The focus of this book is on the work undertaken by the U.S. legislative branch. Describes some of the current and potential challenges to the U.S. and what the government believes must be done. Includes testimony about terrorism and government information, administrative oversights and the courts, immigration, and more. Issues covered include constitutional freedoms; germs and toxic threats; sharing information with local enforcement and homeland defense; biometric identifiers; andpreserving freedoms while defending against terrorism. Volume 32Includes a report to Congress by the director of the Central Intelligence Agency on The Acquisition of Technology Relating to Weapons of Mass Destruction and Advanced Munitions; Department of State s Comprehensive List of Terrorists and Groups Identified Under Executive Order 13224; and a report by the U.S. Senate Committee in the Foreign Relations on Strategies for Homeland Defense. Volume 33Features reports and statements presented before hearings held at the U.S. Congress on terrorism-related issues confronting America in the coming months and years. Report topics cover a wide range of matters - such as the role of intelligence and law enforcement, risk insurance, critical infrastructure, Middle East groups, and state sponsors. Volume 34 Includes both executive and legislative documents focusing mostly on Homeland Security concerns. Other related issues dealing with international implications are also incorporated. For instance, the FBI provides details on the reorganization of the Bureau while the Department of State report, "Pattern of Global Terrorism: May 2001," covers annual events overseas. Volume 35Following the focus on the challenge of conventional and unconventional terrorism at home and abroad, this volume deals with both the U.S. executive and legislative perspectives. Issues covered include the establishment of the Department of Homeland Security; applying the War Powers Resolution to the war on terrorism; information sharing between intelligence agencies; proposals for reorganizing the homeland security infrastructure; immigration reform; protection against weapons of massdestruction; and future terrorism and U.S. foreign policy. Volume 36Features documents from the executive and legislative branches including executive orders, statements before the House Committees on Government Reform and Financial Services, reports on information sharing, Homeland Security, and security at domestic seaports.Volume 37residential determinations, statements before the House Committee on Government Reform, and legislative bills are include