The Economic Effects of Federal Participation in Terrorism Risk

@article{Hubbard2005TheEE,
  title={The Economic Effects of Federal Participation in Terrorism Risk},
  author={Robert Glenn Hubbard and Bruce Deal and Peter N. Hess},
  journal={Banking \& Insurance},
  year={2005}
}
The catastrophic terrorist attack of September 11, 2001 caused unprecedented insured losses. While the insurance industry covered these losses, it also took swift steps to limit its exposure to such risks in the future. In response to ensuing market dislocations, the Terrorism Risk Insurance Act (TRIA) was passed in 2002. The law temporarily requires primary insurers to offer terrorism coverage and creates a federal "backstop" to limit losses on such coverage. In anticipation of the program's… Expand
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