Insurance for Acts of Terrorism

Abstract

This is volume 32, chapter 191, Appleman's on Insurance 2d. This treatise chapter discusses insurance case law arising from acts of terrorism, including those arising from the September 11 attacks and pre-9/11 instances of terrorism. It analyzes the Terrorism Risk Insurance Act of 2002 (TRIA), as amended by the Terrorism Risk Insurance Act of 2005 and the Terrorism Risk Insurance Program Reauthorization Act of 2007. Among other things, it discusses coverage issues, including the problems of overbroad coverage and potential gaps. Lastly, policy considerations surrounding TRIA are discussed including insurance industry strategies, the difficulties of assessing terrorism risks, the effect of TRIA subsidized insurance on the market, and the benefits and problems such subsidized insurance engender.