Policy
Watch Challenges for Terrorism Risk Insurance in the United States
Bibliographic Data
| ID | 4029240 |
|---|---|
| Authors | Howard Kunreuther (Cecilia Yen Koo Professor of Decision Sciences and Public Policy and Co-director of the Center for Risk Management and Decision Processes, The Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania; Research Associate, National Bureau of Economic Research, Cambridge, Massachusetts.), Erwann Michel-Kerjan (Research Fellow at the Center for Risk Management, The Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania, and Research Associate, Laboratoire d'économétrie, Ecole Polytechnique, Paris, France.), Erwann Michel‐kerjan (National Bureau of Economic Research) |
| Year | 2004 |
| Volume | 18 |
| Issue | 4 |
| Pages | 201-214 |
| Publication date | 2004-11-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/0895330042632717 |
| OpenAlex | W3122470733 |
| Language | EN |
| Citations received | 8 |
| References cited | 8 |
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
Actuarial science · Business · Casualty insurance · Economics · General insurance · Insurance law · Insurance policy · Political science · Terrorism · Crime, Deviance, and Social Control · Insurance and Financial Risk Management · Law · Public Administration · Terrorism, Counterterrorism, and Political Violence
The Political Economy of Terrorism
Catastrophic Risks and Insurance
Measuring the Economic Costs of Terrorism
Mapping terrorism in the academic landscape of business field of study
Finance des risques catastrophiques
The impact of geopolitical risks on travel and leisure stocks
Registered Traveler Program
Remodelling reparation
| Citations per year | 0.38 |
|---|---|
| Citation span | 2005 - 2021 (17) |
| Highly cited | No |