ABSTRACT

Terrorism Risk Insurance: Report of the President's Working Group on Financial Markets   [open pdf - 2MB]

"The Terrorism Risk Insurance Extension Act of 2005 requires the President's Working Group on Financial Markets (PWG) to perform an analysis regarding the long-term availability and affordability of insurance for terrorism risk, including group life coverage; and coverage for chemical, nuclear, biological, and radiological events; and to submit a report of its findings to Congress by September 30, 2006. In conducting this analysis, the PWG was assisted by staff of the member agencies who reviewed academic and industry studies on terrorism risk insurance, and sought additional information and consultation through a Request for Comment published in the Federal Register. Staff also met with insurance regulators, policyholder groups, insurers, re-insurers, modelers, and other governmental agencies to gather further information. The key findings of the PWG's analysis are set forth below. The findings are presented under three main areas: the general availability and affordability of terrorism risk insurance; coverage for group life insurance; and coverage for chemical, nuclear, biological, and radiological events. Further detail on each finding is provided in the body of the report."

Publisher:
Date:
2006-09
Copyright:
Public Domain
Retrieved From:
U.S. Dept. of Treasury: http://www.treas.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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