Download or read book Terrorism Risk Insurance Program Reauthorization Act of 2007 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2007 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Terrorism Risk Insurance Program Reauthorization Act of 2007 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2007 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Terrorism Risk Insurance Program Reauthorization Act of 2007 written by Maine. Bureau of Insurance and published by . This book was released on 2008 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book TERRORISM RISK INSURANCE PROGRAM REAUTHORIZATION ACT OF 2007 REPORT REPORT 110 215 U S CONGRESS 110TH CONGRESS 1ST SESSION written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Terrorism Risk Insurance Program Cap on Annual Liability Us Department of the Treasury Regulation Treas 2018 Edition written by The Law Library and published by Independently Published. This book was released on 2019-01-17 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law Library presents the complete text of the Terrorism Risk Insurance Program - Cap on Annual Liability (US Department of the Treasury Regulation) (TREAS) (2018 Edition). Updated as of May 29, 2018 The Department of the Treasury ("Treasury") is issuing this final rule as part of its implementation of Title I of the Terrorism Risk Insurance Act of 2002 ("TRIA" or "the Act"), as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007 ("Reauthorization Act"). The Act established a temporary Terrorism Risk Insurance Program ("TRIP" or "Program") under which the Federal Government would share with commercial property and casualty insurers the risk of insured losses from certified acts of terrorism. The Reauthorization Act has now extended the Program until December 31, 2014. This rule was published in proposed form on September 30, 2008, for public comment. Some clarifying changes have been made in the final rule in response to comments. The rule incorporates and implements statutory requirements in section 103(e) of the Act, as amended by the Reauthorization Act, for capping the annual liability for insured losses at $100 billion. In particular, the rule describes how Treasury intends to determine the pro rata share of insured losses under the Program when insured losses would otherwise exceed the cap on annual liability. The rule builds upon previous rules issued by Treasury. This ebook contains: - The complete text of the Terrorism Risk Insurance Program - Cap on Annual Liability (US Department of the Treasury Regulation) (TREAS) (2018 Edition) - A dynamic table of content linking to each section - A table of contents in introduction presenting a general overview of the structure
Download or read book Filing Procedures for Compliance with the Provisions of the Terrorism Risk Insurance Program Reauthorization Act of 2007 written by Nonnie S. Burnes and published by . This book was released on 2008 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Terrorism Risk Insurance written by Baird Webel and published by . This book was released on 2012 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the September 11, 2001, terrorist attacks, insurance coverage for losses from such attacks was normally included in general insurance policies without specific cost to the policyholders. Following the attacks, such coverage became very expensive if insurers offered it at all. Because insurance is required for a variety of economic transactions, it was feared that a lack of insurance against terrorism loss would have a wider economic impact. Private terrorism insurance was largely unavailable for most of 2002 and some have argued that this resulted in an adverse impact on parts of the economy. Congress responded to the disruption in the terrorism insurance market by passing the Terrorism Risk Insurance Act of 2002. TRIA created a temporary three-year Terrorism Insurance Program in which the government would share some of the losses with private insurers should a foreign terrorist attack occur. The amount of government loss sharing depends on the size of the insured loss. In general terms, for a relatively small loss, private industry covers the entire loss. For a medium-sized loss, the federal role is to spread the loss over time and over the entire insurance industry; the government assists insurers initially but then recoups the payments through a broad levy on insurers afterwards. For a large loss, the federal government would cover most of the losses, although recoupment was possible in these circumstances as well. Insurers are required to make terrorism coverage available to commercial policyholders, but TRIA does not require policyholders to purchase terrorism coverage. The prospective government share of losses has been reduced over time compared to the initial act, but the 2007 reauthorization expanded the program to cover losses stemming from acts of domestic terrorism. The TRIA program is currently slated to expire at the end of 2014.
Download or read book Insurance for Acts of Terrorism written by Robert J. Rhee and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is volume 32, chapter 191, Appleman's on Insurance 2d. This treatise chapter discusses insurance case law arising from acts of terrorism, including those arising from the September 11 attacks and pre-9/11 instances of terrorism. It analyzes the Terrorism Risk Insurance Act of 2002 (TRIA), as amended by the Terrorism Risk Insurance Act of 2005 and the Terrorism Risk Insurance Program Reauthorization Act of 2007. Among other things, it discusses coverage issues, including the problems of overbroad coverage and potential gaps. Lastly, policy considerations surrounding TRIA are discussed including insurance industry strategies, the difficulties of assessing terrorism risks, the effect of TRIA subsidized insurance on the market, and the benefits and problems such subsidized insurance engender.
Download or read book H R 26 Terrorism Risk Insurance Program Reauthorization Act of 2015 written by and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Role in Terrorism Insurance written by Lloyd Dixon and published by Rand Corporation. This book was released on 2007-10-23 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the Terrorism Risk Insurance Act's effects on the market for terrorism insurance? What would be the effect of enhancing provisions for nuclear, biological, chemical, and radiological (NBCR) attacks? The authors conclude that the program yields positive outcomes in a number of dimensions for conventional attacks and identify specific reforms that can improve results for NBCR attacks.
Download or read book The Federal Role in Terrorism Insurance Evaluating Alternatives in an Uncertain World written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concerned that the unavailability of terrorism insurance would impede economic recovery and hinder growth after the 9/11 attacks, Congress passed the Terrorism Risk Insurance Act of 2002 "TRIA". TRIA will sunset at the end of 2007 unless Congress takes further action. This book examines the implications of allowing TRIA to expire and of enhancements aimed at improving the availability and affordability of insurance for nuclear, biological, chemical, and radiological "NBCR" attacks. The analysis takes a systematic approach to addressing the deep uncertainties that underlie the market for terrorism insurance and is the first study of TRIA to consider not just taxpayer payments through the program but also the cost of government compensation and assistance following a terrorist attack when analyzing the program's effect on government spending. The authors conclude that taxpayer cost is lower with TRIA than without TRIA across a broad range of assumptions about attack frequency and the proportion of uninsured losses that are compensated postattack. The analysis also cautions policymakers to be careful when modifying the program to better address NBCR attacks: Simply expanding the program to require insurers to offer NBCR coverage may not achieve the desired outcomes. The authors identify program changes that will produce positive results for both NBCR and conventional attacks that are robust to key underlying uncertainties.
Download or read book Terrorism Insurance written by Yvonne D. Jones and published by DIANE Publishing. This book was released on 2009-03-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Terrorism Risk Insur. Act. (TRIA) specifies that the fed. gov¿t. assume financial responsibility for insured losses on commercial properties resulting from future terrorist attacks. While TRIA has been credited with stabilizing markets for terrorism insur. after 9/11, questions remain as to whether certain policyholders, esp. those located in large urban areas viewed as being at high risk of attack, may still face challenges in obtaining coverage. This study describes: (1) whether the availability of terrorism insurance for commercial properties is constrained in any geographic markets; (2) factors limiting insurers¿ willingness to provide coverage; and (3) advantages and disadvantages of selected public policy options to increase the availability of such insurance. Illus.
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 with total page 16 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 Terrorism Risk Insurance Act written by Ernie L Duke and published by Nova Science Publishers. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the September 11, 2001 terrorist attacks, coverage for losses from such attacks was normally included in general insurance policies without specific cost to the policyholders. Following the attacks, such coverage became very expensive if offered at all. Because insurance is required for a variety of transactions, it was feared that the absence of insurance against terrorism loss would have a wider economic impact. Terrorism insurance was largely unavailable for most of 2002, and some have argued that this adversely affected parts of the economy. This book evaluates the extent of available data on terrorism insurance and Treasury's efforts in determining federal exposure; changes in the terrorism insurance market since 2002; potential impacts of selected changes to the Terrorism Risk Insurance Act (TRIA).
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 The Terrorism Risk Insurance Program written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Terrorism Risk Insurance Act written by Ernie L. Duke and published by Gazelle Book Services, Limited. This book was released on 2014-01-01 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the September 11, 2001 terrorist attacks, coverage for losses from such attacks was normally included in general insurance policies without specific cost to the policyholders. Following the attacks, such coverage became very expensive if offered at all. Because insurance is required for a variety of transactions, it was feared that the absence of insurance against terrorism loss would have a wider economic impact. Terrorism insurance was largely unavailable for most of 2002, and some have argued that this adversely affected parts of the economy. This book evaluates the extent of available data on terrorism insurance and Treasury's efforts in determining federal exposure; changes in the terrorism insurance market since 2002; potential impacts of selected changes to the Terrorism Risk Insurance Act (TRIA).
