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Regulatory Issues Regarding TRIA and Terrorism Coverage Midwest Actuarial Forum

Regulatory Issues Regarding TRIA and Terrorism Coverage Midwest Actuarial Forum. John Pedrick Ohio Department Of Insurance September 23, 2004. Size of the US Industry Policyholders Surplus ($ Millions). Pricing and Modeling. Black Box Problems Usefulness of Results

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Regulatory Issues Regarding TRIA and Terrorism Coverage Midwest Actuarial Forum

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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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