Terrorism Insurance Effects of the Terrorism Risk Insurance Act of 2002

By General Accounting Office

Book Id: WPLBN0000031589
Format Type: PDF eBook
File Size: 0.1 MB
Reproduction Date: 2005

Title:	Terrorism Insurance Effects of the Terrorism Risk Insurance Act of 2002
Author:	General Accounting Office
Volume:
Language:	English
Subject:	Government publications, Accountability in government, United States. General Accounting Office
Collections:	Government Library Collection, Government Accountability Integrity Reliability Office Collection
Historic Publication Date:
Publisher:	United States General Accounting Office (Gao)


Citation APA MLA Chicago Office, G. A. (n.d.). Terrorism Insurance Effects of the Terrorism Risk Insurance Act of 2002. Retrieved from http://gutenberg.cc/

Description
Government Accountability Integrity Reliability Office Collection

Excerpt
Excerpt: commercial policyholders, largely fulfilling a principal objective of the program. In particular, TRIA has benefited commercial policyholders in major metropolitan areas perceived to be at greater risk for a terrorist attack. Prior to TRIA, we reported concern that some development projects had already been delayed or cancelled because of the unavailability of insurance and continued fears that other projects also would be adversely impacted. We also conveyed the widespread concern that general economic growth and development could be slowed by a lack of available terrorism insurance. Since TRIA?s enactment, terrorism insurance generally has been widely available, even for development projects in perceived high-risk areas, largely because of the requirement in TRIA that insurers ?make available? coverage for terrorism on terms not differing materially from other coverage. Although the purpose of TRIA is to make terrorism insurance available, it does not directly address prices. As part of its assessment of TRIA?s effectiveness, Treasury is engaged in gathering data through surveys that should provide useful information about terrorism insurance prices in the marketplace.