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Author: United States. Congress Publisher: Createspace Independent Publishing Platform ISBN: 9781985234369 Category : Languages : en Pages : 104
Book Description
Oversight of the Terrorism Risk Insurance Program : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eighth Congress, second session, on the Terrorism Risk Insurance Program, which established a temporary federal program of shared public and private compensation for insured commercial property and casualty losses resulting from acts of te
Author: United States. Congress Publisher: Createspace Independent Publishing Platform ISBN: 9781985234369 Category : Languages : en Pages : 104
Book Description
Oversight of the Terrorism Risk Insurance Program : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eighth Congress, second session, on the Terrorism Risk Insurance Program, which established a temporary federal program of shared public and private compensation for insured commercial property and casualty losses resulting from acts of te
Author: United States Senate Publisher: ISBN: 9781675616413 Category : Languages : en Pages : 104
Book Description
Oversight of the Terrorism Risk Insurance Program: hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eighth Congress, second session, on the Terrorism Risk Insurance Program, which established a temporary federal program of shared public and private compensation for insured commercial property and casualty losses resulting from acts of te
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher: ISBN: Category : Terrorism insurance Languages : en Pages : 104
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Publisher: ISBN: Category : Political Science Languages : en Pages : 184
Author: The Law Library Publisher: Independently Published ISBN: 9781794290310 Category : Law Languages : en Pages : 28
Book Description
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
Author: The Law Library Publisher: Independently Published ISBN: 9781794666535 Category : Law Languages : en Pages : 74
Book Description
The Law Library presents the complete text of the Terrorism Risk Insurance Program (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 changes to the Terrorism Risk Insurance Program (TRIP or Program) required by the Terrorism Risk Insurance Program Reauthorization Act of 2015 (2015 Reauthorization Act), as published in proposed form on April 1, 2016, for public comment. Treasury previously issued an interim final rule addressing the process for certification of an act of terrorism, as published in proposed form on April 1, 2016. This final rule addresses the balance of the other proposed rules published on April 1, 2016, and adopts the general renumbering of sections as proposed on April 1, 2016. Some clarifying changes have been made in this final rule in response to comments, and certain other wording changes have also been added which do not change the meaning of the rule as originally proposed. This ebook contains: - The complete text of the Terrorism Risk Insurance Program (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
Author: Howard Kunreuther Publisher: ISBN: Category : Property insurance Languages : en Pages : 48
Book Description
The 9/11 attacks in the United States, as well as other attacks in different parts of the world, raise important questions related to the economic impact of terrorism. What are the most effective ways for a country to recover from these economic losses? Who should pay for the costs of future large-scale attacks? To address these two questions, we propose five principles to evaluate alternative programs. We first discuss how a federal insurance program with mandatory coverage and a laissez faire free-market approach for providing private insurance will fare relative to these principles. We conclude that neither solution is likely to be feasible here in the United States given the millions of firms at risk and the current structure of insurance regulation. We then evaluate how well the U.S. Terrorism Risk Insurance Act (TRIA), a public-private program to cover commercial enterprises against foreign terrorism on U.S. soil, meets the five principles. In particular, we show that TRIA has had a positive effect on availability of terrorism coverage and also has significantly contributed to reducing insurance premiums. TRIA is scheduled to terminate at the end of the year, but pending legislation would extend the program for fifteen years after December 31 (HR. 2761). In this paper, we show that such a long-term extension might have important impacts on the market. This could increase the take-up rate, as prices might be even lower than they are today. We show also, however, that if TRIA were extended for a long period of time in its current form, some insurers could "game" the program by collecting ex ante a large amount of premiums for terrorism insurance, while being financially responsible for only a small portion of the claims ex post. The general taxpayer and the general commercial policyholder (whether or not covered against terrorism) would absorb the residual insured losses. This raises major equity issues inherent in the design of the program.
Author: United States. Congress
Author: United States. Congress
Author: United States Senate
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Author: 
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Author: 
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Author: The Law Library
Author: The Law Library
Author: Howard Kunreuther