scholarly journals Policy Watch: Challenges for Terrorism Risk Insurance in the United States

2004 ◽  
Author(s):  
Howard Kunreuther ◽  
Erwann Michel-Kerjan
Keyword(s):  
United States ◽  
The United States ◽  
Terrorism Risk ◽  
Risk Insurance ◽  
Policy Watch

scholarly journals The Terrorist Risk Insurance Act of 2002: The Federal Government's Role in Addressing Losses Caused by Terrorism

2004 ◽  
Vol 11 (1) ◽  
pp. 51
Author(s):  
Michael P.G. Stinziano
Keyword(s):  
United States ◽  
Risk Sharing ◽  
Market Failure ◽  
Private Insurance ◽  
The United States ◽  
Insurance Companies ◽  
Terrorist Attacks ◽  
Terrorism Risk ◽  
The Government ◽  
Risk Insurance

In response to problems associated with insuring against the risk of foreign terrorist attacks in the United States, Congress passed The Terrorist Risk Insurance Act of 2002 (TRIA) to help solve an availability and affordability crisis in the private marketplace for terrorism risk insurance. TRIA established a temporary three-year federal program that created a risk-sharing mechanism to provide private insurance companies with a tool to manage the allocation of their risk resulting from foreign terrorist attacks. The role of government in helping to provide financial protection from losses not served by private markets is not new, but protecting against terrorism risk is. TRIA and its possible alternatives remain a topic of considerable discussion and debate as our country continues to address the threat of terrorism in the United States. One important element of this analysis is to determine what permanent role, if any, the government should play in providing terrorism risk insurance to address the market failure that occurred after September 11. Another is to explore possible alternatives to the current temporary program.

Trends in Terrorism: Threats to the United States and the Future of the Terrorism Risk Insurance Act

10.7249/mg393 ◽  
2005 ◽  
Author(s):  
Peter Chalk ◽  
Bruce Hoffman ◽  
Robert Reville ◽  
Anna-Britt Kasupski
Keyword(s):  
United States ◽  
The United States ◽  
Terrorism Risk ◽  
The Future ◽  
Risk Insurance

scholarly journals Policy Watch: The Introduction of Indexed Government Debt in the United States

1998 ◽  
Vol 12 (1) ◽  
pp. 219-227 ◽  
Author(s):  
David W Wilcox
Keyword(s):  
United States ◽  
Government Debt ◽  
The United States ◽  
The Other ◽  
Bad News ◽  
Secondary Markets ◽  
Early Phases ◽  
Policy Watch

This article describes the early phases of the development of the market for indexed government debt in the United States. The first such bonds were issued in 1997--one set with a maturity of ten years, the other with a maturity of five years. In the wake of the Treasury issuance, several non-Treasury borrowers have issued indexed debt and several new index-linked products for retail customers have been introduced. As expected, the new indexed notes have 'outperformed' conventional nominal notes in the secondary markets for Treasury debt when bad news has become available about inflation and conversely.

scholarly journals Policy: Watch Challenges for Terrorism Risk Insurance in the United States

2004 ◽  
Vol 18 (4) ◽  
pp. 201-214 ◽  
Author(s):  
Howard Kunreuther ◽  
Erwann Michel-Kerjan
Keyword(s):  
Federal Government ◽  
Risk Sharing ◽  
Insurance Coverage ◽  
The United States ◽  
Terrorism Risk ◽  
Insurance Program ◽  
Before And After ◽  
Risk Insurance ◽  
Unites States ◽  
The U.S

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.

scholarly journals Policy Watch: Reform of the U.S. Postal Service

2005 ◽  
Vol 19 (3) ◽  
pp. 217-232 ◽  
Author(s):  
R. Richard Geddes
Keyword(s):  
United States ◽  
The United States ◽  
Postal Service ◽  
Current Structure ◽  
Current Reform ◽  
The U.S ◽  
Policy Watch

The author first reviews the current structure and regulation of the U.S. Postal Service. He then discusses the changing size and composition of the U.S. mail stream. Many other countries have already undertaken comprehensive postal reform, including both privatization and demonopolization, and the author discusses what lessons their experience can provide. He concludes by evaluating current reform proposals in the United States.

scholarly journals Policy Watch: The Worker Adjustment and Retraining Notification Act

1994 ◽  
Vol 8 (1) ◽  
pp. 181-190 ◽  
Author(s):  
John T Addison ◽  
McKinley L Blackburn
Keyword(s):  
United States ◽  
The United States ◽  
Plant Closing ◽  
Industrialized Nations ◽  
Advance Notice ◽  
The Law ◽  
The Impact ◽  
Policy Watch ◽  
Mass Layoff

With the passage of the 1988 Worker Adjustment and Retraining Notification Act, the United States belatedly joined the large number of industrialized nations that require employers to provide affected workers with advance notice of a plant closing or mass layoff. The authors review the legislation, and consider the possible effects of the mandate on workers’ postdisplacement outcomes. Their examination of the impact of the law reveals that the quantity of notice has not increased since the act went into effect. The authors conclude by considering possible reasons why the law has been ineffective.

scholarly journals Policy Watch: The Repeal of Glass-Steagall and the Advent of Broad Banking

2000 ◽  
Vol 14 (2) ◽  
pp. 191-204 ◽  
Author(s):  
James R Barth ◽  
R Dan Brumbaugh ◽  
James A Wilcox
Keyword(s):  
United States ◽  
Data Processing ◽  
Technological Change ◽  
Banking System ◽  
The United States ◽  
Banking Systems ◽  
Policy Watch

Enactment of the Gramm-Leach-Bliley Act (GLBA) in November 1999 effectively repealed the long-standing prohibitions on the mixing of banking with securities or insurance businesses and thus permits “broad banking.” We attribute repeal of these prohibitions to the increasingly persuasive evidence from academic studies of the pre-Glass-Steagall era, the recent favorable experience in the United States following partial deregulation of banking activities, the experience of banking systems abroad with broader scopes for banking activities, and rapid technological change in telecommunications and data processing. How regulators will in practice coordinate their efforts so that the safety and soundness of the banking system is maintained efficiently remains to be seen.

scholarly journals Policy Watch: Examining the Justification for Residential Recycling

2006 ◽  
Vol 20 (4) ◽  
pp. 219-232 ◽  
Author(s):  
Thomas C Kinnaman
Keyword(s):  
United States ◽  
Solid Waste ◽  
The United States ◽  
The Past ◽  
Curbside Recycling ◽  
Waste Policy ◽  
Residential Solid Waste ◽  
Policy Watch

There are 8,875 municipalities in the United States that have initiated curbside recycling programs over the past two decades to help reduce residential solid waste. Four thousand of these municipalities encourage recycling by requiring households to pay a fee for each unit of garbage presented at the curb for collection. How beneficial have the various recycling policies been in practice? This article examines the empirical lessons gained from twenty years of solid waste policy in the United States and argues for the replacement of several state recycling mandates with a moderate landfill tax.

Sign in / Sign up

Export Citation Format

Share Document