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Testimony issued by the General Accounting Office with an abstract that begins "Before September 11, insurance coverage for losses from terrorism was a normal feature of insurance contracts. The attacks on the World Trade Center and the Pentagon have changed insurers' perceptions of their risk exposure. Both insurers and reinsurers say that they do not know how much to charge for this coverage, and because they cannot predict future losses, they may exclude terrorism insurance from future contracts unless the federal government provides some guidance to the industry. Several insurance programs in the United States and other countries ensure that insurance will be available to cover risks that the private sector has been unable or unwilling to cover, including losses from catastrophic events and terrorism. For government insurance programs, the question of long-term cost and program funding needs to be addressed before any program is established. Some federal insurance programs have a statutory intent to provide subsidized coverage, while others are intended to be self-funding. Regardless of statutory intent, if federal insurance is underpriced relative to its long-run costs and the federal government pays the difference, a government subsidy results."

Testimony issued by the General Accounting Office with an abstract that begins "Before September 11, insurance coverage for losses from terrorism was a normal feature of insurance contracts. The attacks on the World Trade Center and the Pentagon have changed insurers' perceptions of their risk exposure. Both insurers and reinsurers say that they do not know how much to charge for this coverage and because they cannot predict future losses, they may exclude terrorism insurance from future contracts unless the federal government provides some guidance to the industry. Several insurance programs in the United States and other countries ensure that insurance will be available to cover risks that the private sector has been unable or unwilling to cover, including losses from catastrophic events and terrorism. For government insurance programs, the question of long-term cost and program funding needs to be addressed before any program is established. Some federal insurance programs have a statutory intent to provide subsidized coverage, while others are intended to be self-funding. Regardless of statutory intent, if federal insurance is underpriced relative to its long-run costs and the federal government pays the difference, a government subsidy results."

A letter report issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO reviewed the availability of the Department of Agriculture's (USDA) federal crop insurance for specialty crops, focusing on: (1) USDA's recent progress in expanding coverage to specialty crops; (2) the new marketing practices insurance companies have introduced for specialty crops and the potential advantages and disadvantages of the practices, including their effect on producers' participation; and (3) the potential effect on participation by producers in the catastrophic crop insurance program if they were charged higher fees."

In this paper, we incorporate a positive theory of unemployment insurance into a dynamic overlapping generations model with search-matching frictions and on-the-job learning-by-doing. The model shows that societies populated by identical rational agents, but differing in the initial distribution of human capital across agents, may choose very different unemployment insurance levels in a politico-economic equilibrium. The interaction between the political decision about the level of the unemployment insurance and the optimal search behavior of the unemployed gives rise to a self-reinforcing mechanism which may generate multiple stady-state equillibria. In particular, a European-type steady-state with high unemployment, low employment turnover and high insurance can co-exist with an American-type steady-state with low unemployment, high employment turnover and low unemployment insurance. A calibrated version of the model features two distinct steady-state equilibria with unemployment levels and duration rates resembling those of the U.S. and Europe, respectively.

Testimony issued by the General Accounting Office with an abstract that begins "After the terrorist attacks of September 11, 2001, insurance coverage for terrorism largely disappeared. Congress passed the Terrorism Risk Insurance Act (TRIA) in 2002 to help commercial property-casualty policyholders obtain terrorism insurance and give the insurance industry time to develop mechanisms to provide such insurance after the act expires on December 31, 2005. Under TRIA, the Department of Treasury (Treasury) caps insurer liability and would process claims and reimburse insurers for a large share of losses from terrorist acts that Treasury certified as meeting certain criteria. As Treasury and industry participants have operated under TRIA for more than a year, GAO was asked to assess Treasury's progress in implementing TRIA and describe how TRIA affected the terrorism insurance market."

Testimony issued by the General Accounting Office with an abstract that begins "After the terrorist attacks of September 11, 2001, insurance coverage for terrorism largely disappeared. Congress passed the Terrorism Risk Insurance Act (TRIA) in 2002 to help commercial property-casualty policyholders obtain terrorism insurance and give the insurance industry time to develop mechanisms to provide such insurance after the act expires on December 31, 2005. Under TRIA, the Department of Treasury (Treasury) caps insurer liability and would process claims and reimburse insurers for a large share of losses from terrorist acts that Treasury certified as meeting certain criteria. As Treasury and industry participants have operated under TRIA for more than a year, GAO was asked to describe how TRIA affected the terrorism insurance market."

This paper studies optimal linear income taxation and redistributive social insurance when the former has the traditional labor distortion and the latter generates both ex ante and ex post moral hazard. Private insurance is available and individuals differ in labor productivity and in loss probability. We show that government intervention in insurance markets is welfare-improving, and social insurance is generally desirable when there is a negative correlation between labor productivity and loss probability.

Testimony issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO discussed the financial condition of the National Flood Insurance Program administered by the Federal Emergency Management Agency's (FEMA) Federal Insurance Administration, focusing on the: (1) financial results of the program's operations since fiscal year 1993; (2) major factors contributing to the financial difficulties faced by the program; and (3) actions taken by and plans of the Federal Insurance Administration that may affect the program's financial health."

Testimony issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO discussed the financial condition of the Federal Emergency Management Agency's National Flood Insurance Program, focusing on the: (1) financial results of the program's operations since fiscal year 1993; (2) major factors contributing to the financial difficulties faced by the program; and (3) actions taken by and plans of the Federal Insurance Administration that may affect the program's financial health."

Donación de AGERS ; Ponencia presentada en el Risk Management Forum, Monte Carlo, celebrado en Monte Carlo, 13 al 16 de octubre de 1991 ; Introduction -- Key facts about Mexico -- Social, political, economic and investment aspects -- An overview of the industry -- Market -- Distribution channels -- Reinsurance -- Products -- National and international aspects that are impacting the local market -- Outlook for the future -- Conclusions

Vroman warns that states are more at risk for insolvency in the late 1990s than they were in 1990 and that a repetition of widespread and large-scale borrowing of the past is a distinct possibility. He bases this statement on an empirical study that examines historical levels of states' UI trust fund balances between recessions, and the specific methods used to finance trust fund blanaces. These methods include traditional means of financing, tax-base indexing, state reserve funds, and "flexible" financing such as solvency taxes and legislative response mechanisms. In addition, he addresses the tradeoffs of financing UI debt by either borrowing from the U.S. Treasury or state bond issues. ; https://research.upjohn.org/up_press/1068/thumbnail.jpg

This paper studies optimal linear income taxation and redistributive social insurance when the former has the traditional labor distortion and the latter generates both ex ante and ex post moral hazard. Private insurance is available and individuals differ in labor productivity and in loss probability. We show that government intervention in insurance markets is welfare-improving, and social insurance is generally desirable particularly when there is a negative correlation between labor productivity and loss probability.

This paper studies optimal linear income taxation and redistributive social insurance when the former has the traditional labor distortion and the latter generates both ex ante and ex post moral hazard. Private insurance is available and individuals differ in labor productivity and in loss probability. We show that government intervention in insurance markets is welfare-improving, and social insurance is generally desirable particularly when there is a negative correlation between labor productivity and loss probability.

This report by the Legislative Audit Council reviews the laws, policies, and practices of the South Carolina Reinsurance Facility. The reinsurance facility provides insurance for divers in the "residual market", drivers who would generally have difficulty getting an insurance company to sell them a policy voluntarily, such as inexperienced drivers or those with a bad driving record. Due to excessive regulations, South Carolina has greatly expanded the number of drivers in its residual market and has reduced competition among insurance companies.

Testimony issued by the General Accounting Office with an abstract that begins "Floods have been, and continue to be, the most destructive natural hazard in terms of economic loss to the nation, according to the Federal Emergency Management Agency. From fiscal years 1969 through 2000, the National Flood Insurance Program--a major federal effort to provide flood disaster assistance paid about $10 billion in insurance claims, primarily from premiums collected from program policy holders. This testimony discusses (1) the financial results of the program's operations since fiscal year 1993, (2) the actuarial soundness of the program, and (3) the impact of repetitive losses and FEMA's strategies for reducing those losses."