Transitions in Terrorism Insurance: The Debate over TRIA
Charles River Associates; Northwestern University
Daniel D. Garcia-Swartz
Charles River Associates - Chicago Office
Barbon Discussion Paper No. 06-04
In this paper we summarize the motivations for enacting the Terrorism Risk Insurance Act (TRIA) and provide a brief description of its provisions. We then turn to the controversy over TRIA's extension. Multiple views over the role of government in terrorism insurance have been expressed in both the academic and the popular literatures. Even the federal government is divided concerning the efficacy of TRIA. We cull what lessons we can from the debate and its many points of view. We conclude that TRIA has served a useful purpose as a temporary stopgap measure, allowing the industry much needed time to regroup in the face of a dramatically altered risk landscape.
Number of Pages in PDF File: 29
Keywords: TRIA, Terrorism, Regulation, Insurance
Date posted: November 10, 2006
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