Our live-tweeting of today’s hearing on the Terrorism Risk Insurance Act
Biggert: We will look at ways to encourage more private sector options to insure terrorism risk #TRIA
— R Street Institute (@RSI) September 11, 2012
Maloney: TRIA has absolutely no cost to the taxpayer…..UNLESS there is a terrorist attack #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig : Insurers paid $40 billion from Sept. 11 attacks #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig : TRIA, by all objective measures, is unqualified success #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig: Terrorism risk today as uninsurable as it was a decade ago. #TRIA
— R Street Institute (@RSI) September 11, 2012
. @Bob_Hartwig : May be worthwhile to explore pooling proposals that were floated immediately after 9/11 #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Heritage: Existence of TRIA may be holding industry back from developing private solutions #TRIA
— R Street Institute (@RSI) September 11, 2012
. @Heritage: While the problem in 2001 was real, it should have been temporary. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Heritage: No reason why taxpayers should continue to have responsibility for paying insurance losses on private property. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Heritage: Congress should neither extend nor expand TRIA without commitment for permanent phase-out. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@uschamber : TRIA keeps insurance industry's skin in the game, protects taxpayers. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@uschamber : Terrorism peril is too linked to government policy to be sole responsibility of private sector. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@uschamber : Among lessons of 9/11 is making sure catastrophic events don't cause lasting harm to economy. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@uschamber: Coverage for terrorism would not be available without TRIA #TRIA
— R Street Institute (@RSI) September 11, 2012
Michel-Kerjan: Eliminating TRIA will lead to more, not less, exposure for taxpayers. #TRIA
— R Street Institute (@RSI) September 11, 2012
Michel-Kerjan: U.K. and German public-private risk pooling for terrorism charge a premium; they are not free. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@RIMSorg: Inability to acquire terror insurance would impact loans, ability to secure financing. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@al_green: How will you ever know if there could be a private market if you don't let the private market develop? #TRIA
— R Street Institute (@RSI) September 11, 2012
.@JudyBiggert : Why have terrorism models not been developed? #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig : Nature of terror threat morphs over time, we harden targets, but terrorist move to softer targets. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig : War risks have always been excluded from insurance policies. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig: Reinsurance plays an extremely important role already in provided capacity to terror market. #TRIA
— R Street Institute (@RSI) September 11, 2012
On first panel, @Heritage's David John is only witness to argue for eliminating TRIA, although several endorse changes. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig: Appropriate to see how program might be tweaked. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Bob_Hartwig: UK's Pool Re has been operating smoothly for 20 years #TRIA
— R Street Institute (@RSI) September 11, 2012
.@Heritage's David John: Obama budget has put forward proposals to gradually end the program. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@uschamber : Before 2005 and 2007 renewals, policyholders were told terror coverage would be withdrawn. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@BradSherman : Disasters will happen, and when they do, Ayn Rand will not be in charge of coordinating the federal response. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@NAMICnews's Jewelers Mutual: A hurricane cannot study wind damage mitigation and find ways around them. Terrorists can. #TRIA
— R Street Institute (@RSI) September 11, 2012
.@AonBenfield : There is little appetite for NBCR risks by private reinsurers. #TRIA
— R Street Institute (@RSI) September 11, 2012
