governments can mitigate terrorism risk but also how governments might help finance future losses. This interest was buttressed by … the seemingly failure of the private insurance market to provide coverage for terrorism losses after the attack on … government provision of terrorism insurance. The paper argues that mostly unfettered insurance and capital markets are capable of …

This paper examines the role that insurance has played in dealing with terrorism before and after September 11, 2001 …, by focusing on the distinctive challenges associated with terrorism as a catastrophic risk. The Terrorism Risk Insurance … Act of 2002 (TRIA) was passed by the U.S. Congress in November 2002, establishing a national terrorism insurance program …

This article provides an empirical investigation of the determinants of terrorism at the country level. In contrast … with the previous literature on this subject, which focuses on transnational terrorism only, I use a new measure of … terrorism that encompasses both domestic and transnational terrorism. In line with the results of some recent studies, this …

This paper examines the role of the federal government in the market for terrorism reinsurance. We investigate the … stock price response of affected industries to a sequence of thirteen events culminating in the enactment of the Terrorism … was at best value-neutral for property-casualty insurers because it eliminated the option not to offer terrorism insurance …

This paper discusses new challenges we face with terrorism as a catastrophic risk by focusing on risk assessment, risk … management as well as risk financing issues. The special characteristics of terrorism compared with major natural hazards call … for the development of public-private partnerships, as recognized in November 2002 when the Terrorism Risk Insurance Act …

deterrence, and the extent to which security against terrorism is (still) a public good. I develop for that purpose a simple … model of terrorism, cast in a nested discrete choice framework. Two strategies are considered: fighting terrorism at its … defense, security against terrorism becomes a mixed private/public good. A key result of the model is that the government …