Research Catalog

National security perspectives on terrorism risk insurance in the United States

Title

National security perspectives on terrorism risk insurance in the United States / Henry H. Willis, Omar Al-Shahery.

Author

Willis, Henry H.

Publication

[Santa Monica] : RAND Corporation, [2014]
©2014

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Status	Format	Access	Call Number	Item Location
Request for On-site Use Request Scan Available - Can be used on site. Please visit New York Public Library - Schwarzman Building to submit a request in person.	Text	Use in library	JBF 17-334	Schwarzman Building - General Research Room 315

Details

Additional Authors

Description

21 pages : color illustrations; 28 cm

Summary

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.

Series Statement

Policy brief

Uniform Title

Policy brief (Rand Corporation)

Subjects

Note

Title from caption.
"RR-573-CCRMC"--Page 4 of cover.

Bibliography (note)

Includes bibliographical references (pages 19-21).

Call Number

JBF 17-334

ISBN

0833085352
9780833085351

OCLC

877369416

Author

Willis, Henry H., author.

Title

National security perspectives on terrorism risk insurance in the United States / Henry H. Willis, Omar Al-Shahery.

Publisher

[Santa Monica] : RAND Corporation, [2014]

Copyright Date

Type of Content

text

Type of Medium

unmediated

Type of Carrier

volume

Series

Policy brief

Policy brief (Rand Corporation)

Bibliography

Includes bibliographical references (pages 19-21).

Added Author

Al-Shahery, Omar, author.

RAND Center for Catastrophic Risk Management and Compensation, sponsoring body.

Rand Corporation, issuing body.

Research Call Number

JBF 17-334

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