The Impact on Workers’ Compensation Insurance Markets of Allowing the Terrorism Risk Insurance Act to Expire

The Impact on Workers’ Compensation Insurance Markets of Allowing the Terrorism Risk Insurance Act to Expire

Michael Dworsky
Lloyd Dixon
Copyright Date: 2014
Published by: RAND Corporation
Pages: 22
https://www.jstor.org/stable/10.7249/j.ctt6wq9ht
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  • Book Info
    The Impact on Workers’ Compensation Insurance Markets of Allowing the Terrorism Risk Insurance Act to Expire
    Book Description:

    Congress enacted the Terrorism Risk Insurance Act (TRIA) in 2002, in response to terrorism insurance becoming unavailable or extremely costly in the wake of the 9/11 attacks. TRIA is set to expire at the end of 2014, and Congress is considering the appropriate government role in terrorism insurance markets. This policy brief examines how markets for workers’ compensation insurance would be affected if TRIA were to expire.

    eISBN: 978-0-8330-8698-3
    Subjects: Political Science, Law, Business, History

Table of Contents

  1. The Impact on Workersʹ Compensation Insurance Markets of Allowing the Terrorism Risk Insurance Act to Expire
    (pp. 1-19)
    Michael Dworsky and Lloyd Dixon

    Policy debates over the Terrorism Risk Insurance Act (TRIA) have focused primarily on property insurance, yet certain institutional features of workers’ compensation (WC) markets could cause TRIA’s expiration to have very different consequences in WC than in property and other TRIA lines. This policy brief examines how insurers who sell WC might respond to the expiration of TRIA, how these market responses could affect the cost and availability of WC coverage, and who would bear the financial burden of catastrophic WC losses from a terrorist attack without TRIA in place. A primary motivation for this policy brief is to help...

  2. About the Authors
    (pp. 20-20)
  3. About This Document
    (pp. 21-21)
  4. Back Matter
    (pp. 22-22)