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Terrorism Insurance
September 2004
BNA's Web Watch is prepared by
Laura Gordon-Murnane. Documents
and Reports are arranged first by federal government, state governments,
international governments, and nongovernment organizations. E-mail
suggestions for future weekly topics always welcome.
Federal Government
Pending Legislation
S.
2764 A bill to extend the applicability of the
Terrorism Risk Insurance Act of 2002
(introduced Christopher J. Dodd)
H.R.
4772 To extend the terrorism risk insurance program
(Introduced by Michael E. Capuano)
H.R.
4634 To extend the terrorism insurance program
of the Department of the Treasury. (Introduced by Pete Sessions)
Republican Policy Committee
Federal
Terrorism Reinsurance: A Solution or a Problem? (June 15, 2004)
Congressional Hearings
US
Senate Committee on Banking, Housing, and Urban Affairs Oversight
of the Terrorism Risk Insurance Program (May 18, 2004)
Member Statements
Senator
Richard Shelby
Senator
Jim Bunning
Senator
Paul S. Sarbanes
Senator
Tim Johnson
Senator
Charles E. Schumer
Witness Testimony
The Honorable Brian
Roseboro Under Secretary for Domestic Finance, Department of
the Treasury
Mr. Richard Hillman, Director of Financial Markets and Community
Investment, U.S. General Accounting Office
Mr.
John Degnan, Vice Chairman, The Chubb Corporation
Mr.
J. Robert Hunter, Director of Insurance, Consumer Federation
of America
Mr.
Christopher Nassetta, President and CEO, Host Marriott Corporation
Mr.
Jacques E. Dubois, Chairman and CEO, Swiss Re America Holding
Corporation
Ms.
Donna Lee Williams, Commissioner, Delaware Department of Insurance
Subcommittees on Capital Markets, Insurance and Government Sponsored
Enterprises
And Oversight and Investigations
Hearing entitled “A
Review of TRIA and its Effect on the Economy: Helping America Move
Forward” (Wednesday, April 28, 2004)
Opening Statement of Full Committee Chairman Michael
G. Oxley
Opening Statement of Oversight Subcommittee Chairwoman Sue
Kelly
Opening Statement of Representative Peter
T. King
Opening Statement of Representative Paul
E. Gillmor
Opening Statement of Capital Markets Ranking Member Paul
E. Kanjorski
Prepared Testimony
The Honorable Wayne
A. Abernathy, Assistant Secretary for Financial Institutions,
United States Department of the Treasury
The Honorable Gregory
V. Serio, Superintendent, New York State Insurance Department
Mr.
Richard J. Hillman, Director, Financial Markets and Community
Investment, United States General Accounting Office
Statement submitted by The
American Council of Life Insurers (ACLI)
Statement
submitted on behalf of: American Insurance Association (AIA) Council
of Insurance Agents & Brokers (CIAB) Independent Insurance Agents
& Brokers of America (IIABA) National Association of Professional
Insurance Agents (PIA) Property Casualty Insurers Association of
America (PCI) Reinsurance Association of America (RAA) Surety Association
of America (SAA) UWC – Strategic Services on Unemployment
& Workers Compensation (UWC)
General Accountability Office
Effects
of the Terrorism Risk Insurance Act of 2002 (GAO-04-720T) (April
2004)
Executive Agencies
US Department of Treasury
Terrorism Insurance Regulations
Final
Rule - Litigation Management - July 28, 2004
Final
Rule - Claims Procedures - June 29, 2004
Proposed
Rule -Litigation Management -May 06, 2004
Nongovernment Organizations
American Academy of Actuaries
P/C
Terrorism Insurance Coverage: Where Do We Go Post-Terrorism Risk
Insurance
Act?
Analysis Group
The
Economic Effects of Federal Participation in Terrorism Risk
(September 14, 2004)
R. Glenn Hubbard and Bruce Deal Managing Principal, Analysis Group,
Inc.
The Coalition to Insure Against Terrorism (“CIAT”)
Industry
Comment Letter: Comments on “Make Available” Determination
(June 4, 2004)
Consumer Federation of America
The
Terrorism Risk Insurance Act: Should It Be Renewed? (April 2004)
Insure America Against Terrorism
The John Liner Review - Is
terrorism insurable? Is TRIA good public policy? The answers to
both questions mandate the renewal of TRIA. (Summer 2004)
Mortgage Bankers Association
Study
Of Terrorism Insurance, Tria And The “Make-Available”
Provision (June 2, 2004)
More
Than $400 Billion of Commercial/Multifamily Debt at Risk for Loss
of Terrorism Risk Insurance Without Extension of TRIA 'Make-Available'
Provision MBA Survey Shows Impact on All Property Types Across U.S.
MBA
TRIA Survey
NBER
An Empirical
Analysis of the Economic Impact of Federal Terrorism Reinsurance
with Jeffrey R. Brown, J. David Cummins, Ran Wei: March 2004 (Requires
Subscription)
Towers Perrin
Worker’s
Compensation Terrorism Reinsurance Pool Feasibility Study (March
2004)
Insurance Information Institute
The
Fate of TRIA: Is Terrorism an Insurance Risk? (June 3, 2004)
October 2002
Congress
Joint Economic Committee
Economic
Perspectives on Terrorism Insurance
Council of Economic Advisors
Economic
Report to the President (February 2002)
Federal Reserve - Board of Governors of the Federal Reserve
System
The
April 2002 Senior Loan Officer Opinion Survey on Bank Lending Practices
Monetary
Policy Report to the Congress (July 16, 2002)
General Accounting Office
Terrorism
Insurance Rising Uninsured Exposure to Attacks Heightens Potential
Economic Vulnerabilities Statement of Richard J. Hillman Director,
Financial Markets and Community Investment February 27, 2002
Testimony - Terrorism
Insurance Alternative Programs for Protecting Insurance Consumers
Statement of Richard J. Hillman Director, Financial Markets and
Community Investment October 24, 2001
Nongovernment Organizations
American Academy of Actuaries
Terrorism
Insurance Coverage in the Aftermath of September 11th
Terrorism
Insurance Coverage in the Aftermath of September 11th A Public
Statement by the Extreme Events Committee of the American Academy
of Actuaries John J. Kollar, Chairperson
American Insurance Association
Estimating
the Budgetary Impacts of the Proposed Federal Terrorism Risk Insurance
Program: HR 3210 and S 2600 Prepared by: Stephen P. Lowe (July
12, 2002)
Coalition to Insure Against Terrorism
Links
to letters, surveys, and press releases
Consumer Federation of America
How
the Lack of Federal Back Up for Terrorism Insurance Has Affected
Insurers and Consumers: An Update A Report by the Consumer Federation
of America (August 22, 2002 )
Final
Terror Insurance Legislation Takes Shape: Taxpayers on the Hook
For Billions; Insurer Payback is Miniscule
The
Truth about Terrorism Insurance: Wild Claims by Business Lobbyists
Don't Hold Up Under Scrutiny
Insurance Information Institute
September
11: One Hundred Minutes of Terror that Changed the Global Insurance
Industry Forever September 11, 2001: The First Year One Hundred
Minutes of Terror that Changed the Global Insurance Industry Forever
Robert P. Hartwig, Ph.D., CPCU1 Senior Vice President & Chief
Economist
Presentation: The
Long Shadow of September 11 - Impacts & Implications for Insurers
and Reinsurers
see charts
Insurance Services Organization
Status
of terrorism Filings
International Risk Management Institute, Inc.
Attack
on America: The Insurance Coverage Issues Part 1: War Risk Exclusions
(September 2001)
Attack
on America: The Insurance Coverage Issues Part 2: General Coverage
Provisions (September 2001)
The
ISO Terrorism Exclusions: Background and Analysis (February
2002)
National Association of Real Estate Investment Trusts
Terrorism
Insurance Issues
Terror
Insurance and Real Estate - Backgrounder
Real Estate Roundtable
Insurance
Coverage for Terrorism
Risk and Insurance Management Society
Highlights
from RIMS Survey on Terrorism Insurance Availability (September
2002)
How
Much are Americans at Risk Until Congress Passes Terrorism Insurance
Legislation - Statement by David L. Mair of the U.S. Olympic
Committee and the Risk and Insurance Management Society Before the
Subcommittee on Oversight and Investigations Committee on Financial
Services - United States House of Representatives Sue Kelly, Chairwoman,
(February 27, 2002)
Reinsurance Association of America
The
Reinsurance Market: The Impact of the September 11th Terrorism Catastrophe
Statement Rebuilding
Commercial Insurance Markets With a Public/Private Partnership NAIC
Reinsurance Task Force Hearing (January 17, 2002)
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