The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-month ,nine-months! . I do not mean to sound hatefull.. I just would like to know how much State Farm and other Insurance compay,s really payout for this Terrorism of 911…. So much was give by loving and caring people in this country.. The billion,s that they charged over and over, all the years building,s that they did not rebuild.. The money would blow are minds the insurance wants all of us to deplete the Gov so no money of schools and on and on we go were will end .I have hope..
Did you not read this .Pull your head out… Who will make the call on this one.Terrorism Risk Insurance . Who calls this one the insurance CEO. So give us the rules do you think you can .
I’m sorry, but I haven’t a clue as to what you are talking about no name. I read the article and understand the program since my company has to deal with it. Your post needs to tell us why you have a problem with the article, the program or insurance companies in general. Go back and read the postings you have hear and tell me that they are specific on the issue. Sorry to be critical, but if you want to insult me you have to tell me why I’m being insulted.
THe issue here is that the contry has avoided another 9-11 and hence the destruction of civilization as we know it, a civilization that hinges on the well being of this naiton’s economy on which the remaining world is critically dependant. This avoidance of disaster, made possible by the orchestration of the President’s war on terror, is incohetrent without a federal TRIA. If we have a war on terror, as we do, we also need TRIA.
For insurance, the risk must be measurable. Insurers must be able to determine the possible or probable number of events (frequency) likely to result in claims and the maximum size or cost (severity) of these events. In case of acts of terrorism losses are intentional, terrorism risk doesn’t have these characteristics for easily ‘insurable risk’ therefore many countries have adopted model in which insurers pay premiums into the pool which is back-stopped by the government. Example France Government-owned Caisse Central de Reassurance (CCR), In UK the government acts as the reinsurer of last resort, guaranteeing payments above the industry retention.
The structure of this program has encouraged the development of reinsurance for the layers of risk that insurers must bear themselves—deductible amounts and coinsurance—which in turn allows primary insurers to provide coverage. Without TRIA, there would be no private market for terrorism insurance.
It wishful thinking of everyone that there are no terrorist activities and no data available for insurance companies to measure this risk and we do not need such program.
But process of phasing out of TRIA is necessary after few years, how many years is still debatable?
Okay, time to put the acronym nerds in their place again. First of all, congrats to the headline editor for correctly stating that it is TRIA we are talking about here.
The entire industry knows it as TRIA. Therefore, it will always be TRIA. Despite the title of the latest extension bill, it is TRIA…not TRIPRA or TRIEA or any other set of initials.
Those who would leap like lemmings to change acronyms 1) need to get a life and 2) are the kind of people who save string and carry their coins in a change purse.
No name,
Please do your research before you continue to rant aimlessly.
1) Terrorism insurance is an optional coverage which can be purchased.
2) There is a very good reason that the private markets are applauding the extension of this act. While the insurance companies and Government may be collecting money now, I would say that an event that triggers this act will cause more to be paid in claims then have been collected in premium.
Dubya and Cheney were holding out for their cut.
bill will help remove the risk. Please tell me what this really is saying>
The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-month ,nine-months! . I do not mean to sound hatefull.. I just would like to know how much State Farm and other Insurance compay,s really payout for this Terrorism of 911…. So much was give by loving and caring people in this country.. The billion,s that they charged over and over, all the years building,s that they did not rebuild.. The money would blow are minds the insurance wants all of us to deplete the Gov so no money of schools and on and on we go were will end .I have hope..
Lay off the egg nog people. Looks like no one can put together a coherent thought!
Think about it… Big
I think no name here just proved your last post Dustin. Lot’s of strange people on this site this week. Some of them make Rosie look rational.
Did you not read this .Pull your head out… Who will make the call on this one.Terrorism Risk Insurance . Who calls this one the insurance CEO. So give us the rules do you think you can .
I’m sorry, but I haven’t a clue as to what you are talking about no name. I read the article and understand the program since my company has to deal with it. Your post needs to tell us why you have a problem with the article, the program or insurance companies in general. Go back and read the postings you have hear and tell me that they are specific on the issue. Sorry to be critical, but if you want to insult me you have to tell me why I’m being insulted.
THe issue here is that the contry has avoided another 9-11 and hence the destruction of civilization as we know it, a civilization that hinges on the well being of this naiton’s economy on which the remaining world is critically dependant. This avoidance of disaster, made possible by the orchestration of the President’s war on terror, is incohetrent without a federal TRIA. If we have a war on terror, as we do, we also need TRIA.
GReed $$$$$$$$$$$$$$$$$$$$444444 who!!!
For insurance, the risk must be measurable. Insurers must be able to determine the possible or probable number of events (frequency) likely to result in claims and the maximum size or cost (severity) of these events. In case of acts of terrorism losses are intentional, terrorism risk doesn’t have these characteristics for easily ‘insurable risk’ therefore many countries have adopted model in which insurers pay premiums into the pool which is back-stopped by the government. Example France Government-owned Caisse Central de Reassurance (CCR), In UK the government acts as the reinsurer of last resort, guaranteeing payments above the industry retention.
The structure of this program has encouraged the development of reinsurance for the layers of risk that insurers must bear themselves—deductible amounts and coinsurance—which in turn allows primary insurers to provide coverage. Without TRIA, there would be no private market for terrorism insurance.
It wishful thinking of everyone that there are no terrorist activities and no data available for insurance companies to measure this risk and we do not need such program.
But process of phasing out of TRIA is necessary after few years, how many years is still debatable?
Okay, time to put the acronym nerds in their place again. First of all, congrats to the headline editor for correctly stating that it is TRIA we are talking about here.
The entire industry knows it as TRIA. Therefore, it will always be TRIA. Despite the title of the latest extension bill, it is TRIA…not TRIPRA or TRIEA or any other set of initials.
Those who would leap like lemmings to change acronyms 1) need to get a life and 2) are the kind of people who save string and carry their coins in a change purse.
No name,
Please do your research before you continue to rant aimlessly.
1) Terrorism insurance is an optional coverage which can be purchased.
2) There is a very good reason that the private markets are applauding the extension of this act. While the insurance companies and Government may be collecting money now, I would say that an event that triggers this act will cause more to be paid in claims then have been collected in premium.
Now caffiend, that is bordering on rational and we can’t have that on IJ comment boards. This is for the ranting of crazies! Happy New Year!