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- Terrorism Risk Insurance Act of 2002: A Reinsurer's Perspective
- With a stroke of the presidential pen, theTerrorism Risk Insurance Act of 2002became law the morning of November 26,2002. Now that the U.S.government has done its part to meet theneeds of the country as a whole, the insurance industry is faced with meeting the needs of its customers. It...
- White papers 2003-01-01
- Institutional Investor Conference
- The article is about the Counter terrorism Protocol that include terrorism risk assessment, business impact assessment Generally, the most cost effective way to increase terrorism coverage is to directly access the Terrorism Risk Insurance Act's TRIA federal reinsurance program via a domestic, U.S. domiciled captive insurance company. The article...
- White papers 2003-09-23
- Terrorism Risk Insurance Act of 2002 (TRIA)
- Companies accepting an insurers offer of terrorism coverage must also pay the additional premium within that same 30-day window. Article informs that TRIA neither established any premium guidelines for insurers nor provided the insurance industry with much time to absorb and comply with its provisions. The three main factors...
- White papers 2003-01-01
- Captives, the Terrorism Risk Insurance Act, and the Market
- The article defines two terms Captive and The Terrorism Risk Insurance Act. The Terrorism Risk insurance Act was critically needed in order to start bringing order and reason to a market which was dazed, confused. Since the insurance industry, pretty much at its own choosing, is regulated on a state-by-state...
- White papers 2003-01-01
- The Impact of TRIA on Workers Compensation Insurance
- The Terrorism Risk Insurance Act of 2002 TRIA, will have a significant impact on workers compensation insurance. The TRIA requires property and casualty insurers to offer policyholders insurance for losses resulting from acts of foreign terrorism. Workers compensation insurers are additionally required to provide coverage for war-related injuries and fatalities....
- White papers 2003-02-01
- New Interim Guidance Issued By Department Of Treasury On Terrorism Risk Insurance Act
- The articles defines the legislation the Terrorism Risk Insurance Act of 2002. This historic legislation provides a federal backstop for terrorism insurance. The Terrorism Risk Insurance Act provides that under certain circumstances after an insurance company has paid an amount of claims from terrorist events the government. An "act of...
- White papers 2003-02-01
- The Challenge of Terrorism
- In this article, issues in complying with the Terrorism Risk Insurance Act of 2002 are addressed. The Federal Government took a big step at the end of 2002 by enacting the Terrorism Risk Insurance Act. It provides some of their thoughts and observations as they address the work brought on...
- White papers 2002-01-01
- Assessing, Managing And Financing Extreme Events: Dealing With Terrorism
- 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...
- White papers 2003-10-01
- The Terrorism Risk Insurance Act of 2002
- The Act renders void all terrorism exclusions currently in force on commercial property and casualty policies of participating insurers. To be eligible for Federal reimbursement of certified terrorism losses, insurers must provide notice to the insurers of the premium for coverage being provided under the program, and the extent to...
- White papers 2002-12-01
- Terrorism Insurance Return
- With policy exclusions voided by law, finance executives face decisions about buying coverage for terrorist acts. The article explains about the Terrorism Risk Insurance Act of 2002 and the changes taken place due to implementation of the Act. The TRIA has brought prices down for companies that purchased stand-alone policies...
- White papers 2003-03-01
- New Statutory Disclosure and Mandatory Availability Requirements - Terrorism Risk Insurance Act of 2002
- The article explains about the notice provides interim guidance to insurers concerning certain statutory disclosure and mandatory availability requirements contained in the Terrorism Risk Insurance Act of 2002. In addition, this notice provides interim guidance to insurers concerning the types of commercial property and casualty insurance covered by the Act...
- White papers 2002-12-03
- Terrorism Risk Insurance Act of 2002
- This act presents some important findings. Property and casualty insurance firms are important financial institutions, the products of which allow mutualization of risk and the efficient use of financial resources and enhance the ability of the economy to maintain stability, while responding to a variety of economic, political, environmental,...
- White papers 2003-01-01
- The Fall And Rise Of Terrorism Insurance Coverage Since September 11, 2001
- In the absence of a terrorist attack, it is difficult to gauge TRIA's impact. As Part IV in the article indicates, many issues related to TRIA have yet to be resolved. Over the coming months, the Treasury Department will likely address these issues and attempt to clarify them. Some issues...
- White papers 2003-01-01
- Summary Of The Terrorism Risk Insurance Act Of 2002
- The "Terrorism Risk Insurance Act of 2002" ("TRIA") is intended to stabilize property and casualty markets that have been suffering from the unavailability and high prices of insurance. TRIA provides a Federal backstop for terrorism losses through a program whereby the Federal government assumes most of the risk of a...
- White papers 2002-12-12
- Catastrophic Provision Certified Terrorism Losses
- Pursuant to section 106a(2)B of the federal Terrorism Risk Insurance Act of 2002 ("TRIA"), rates and forms filed for terrorism risk insurance coverage are not subject to prior approval or a waiting period under any state law that would otherwise be applicable. Insurers can immediately implement rate changes for coverage...
- White papers 2003-03-07
- Status of Terrorism Risk Insurance Act Filing in Independent Bureaus and Other Non-NCCI States
- Pursuant to section 106a(2)B of the federal Terrorism Risk Insurance Act of 2002 ("TRIA"), rates and forms filed for terrorism risk insurance coverage are not subject to prior approval or a waiting period under any state law that would otherwise be applicable. Insurers can immediately implement rate changes for coverage...
- White papers 2003-01-01
- Voluntary Expedited Filing Procedures For Compliance With The Provisions Of The Terrorism Risk Insurance Act Of 2002
- This bulletin was drafted to expedite the delivery of a common message to insurers related to implementation issues that have developed as a result of the enactment of the Terrorism Risk Insurance Act of 2002. The basic bulletin recognizes that 46 jurisdictions have allowed some coverage limitations related to acts...
- White papers 2003-01-01
- Data Reporting Requirements--Implementation of the Terrorism Risk Insurance Act of 2002
- This circular provides the data reporting requirements of these components as they pertain to policy, unit statistical, detailed claim information DCI and financial data. To ensure that your company fully understands these components, review the information contained in this circular and implement any procedural or system changes that may be...
- White papers 2003-01-15
- Ratemaking Issues Related to the Terrorism Risk Insurance Act
- The Terrorism Risk Insurance Act of 2002 TRIA requires insurers writing commercial lines policies to make an offer of coverage for losses caused by acts of foreign international terrorism. Terrorism is a relatively new peril in the United States. Because the future level of losses for terrorism is very uncertain,...
- White papers 2003-03-04
- Terrorism Risk Insurance Act of 2002: Terrorism Insurance Program, Treatment Of Terrorist Assets, Federal Reserve Board Provisions
- The ability of businesses and individuals to obtain property and casualty insurance at reasonable and predictable prices, in order to spread the risk of both routine and catastrophic loss, is critical to economic growth, urban development, and the construction and maintenance of public and private housing, as well as to...
- White papers 2003-01-01
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