Property Terrorism Update

Topics:
Terrorism Insurance
Tags:
Government,
Homeland Security,
Regulations,
Terrorism,
Terrorism Risk Insurance Act
Source:
Aon

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Overview: The Terrorism Risk Insurance Act of 2002 (TRIA) created an instantaneous US$100 billion U.S. Federal reinsurance mechanism to fill the terrorism capacity void for U.S. based risks that arose after the events of September 11, 2001. TRIA's impact was immediate in terms of providing the commercial property insurance market with readily available and relatively affordable terrorism insurance capacity. As indicated by the continually increasing take-up rate for TRIA coverage, it has taken time for the market to adjust to the economic benefits provided by TRIA as both insurance carriers and risk managers have come to understand terrorism risk generally and TRIA specifically. With the passage of time has come stability in both pricing and availability.

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Format: PDF | Size: 465KB | Date: Apr 2005 | Pages: 20

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