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Regulatory Issues Regarding TRIA and Terrorism Coverage: Implications for the US Insurance Industry

Explore the impact of TRIA on terrorism coverage, pricing, and modeling in the US insurance industry. Gain insights into pre-TRIA and post-TRIA regulations, NAIC statements, and industry analysis for competitive pricing strategies.

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Regulatory Issues Regarding TRIA and Terrorism Coverage: Implications for the US Insurance Industry

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  1. Regulatory Issues RegardingTRIA and Terrorism CoverageMidwest Actuarial Forum John Pedrick Ohio Department Of Insurance September 23, 2004

  2. Size of the US IndustryPolicyholders Surplus($ Millions)

  3. Pricing and Modeling • Black Box Problems • Usefulness of Results • Unified Industry Analysis • Competitive Pricing for Terrorist Acts Coverage

  4. What Happens After TRIA? Pre-TRIA Post-TRIA

  5. NAIC Statement, Pre-TRIACommercial Lines “States should grant conditional approval to commercial lines endorsements that exclude coverage for acts of terrorism consistent with the exclusion framework developed by ISO…”

  6. NAIC Statement, Pre-TRIA Personal Lines “It is the sense of the NAIC membership that terrorism exclusions are generally not necessary in personal lines property and casualty products…”

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