Insurance for Acts of Terrorism

Rhee, Robert

doi:10.2139/ssrn.1245682

Abstract

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Insurance for Acts of Terrorism

Robert J. Rhee

University of Maryland Francis King Carey School of Law

August 21, 2008

Abstract:
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.

Number of Pages in PDF File: 65

Keywords: terrorism, federal reinsurance, terrorism risk insurance act, catastrophic risk

JEL Classification: G22, K00, K19

working papers series

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Date posted: August 22, 2008

Suggested Citation

Rhee, Robert J., Insurance for Acts of Terrorism (August 21, 2008). Available at SSRN: http://ssrn.com/abstract=1245682 or http://dx.doi.org/10.2139/ssrn.1245682

Contact Information

Robert J. Rhee (Contact Author)

University of Maryland Francis King Carey School of Law ( email )

500 West Baltimore Street
Baltimore, MD 21201-1786
United States

HOME PAGE: http://www.law.umaryland.edu/faculty_profile.asp?facultynum=539