From an accounting standpoint, are credible statistics available that estimate the amount of premium dollars US Businesses have paid for Terrorism Insurance under the Act verses the losses paid out by insurance companies and the Federal Government? This would be helpful information concerning this subject matter. While its a matter of time before another major terrorism incident occurs around the world or on our soil which is an important fact to remember, I wonder whether the ACT has proven to be a windfall for the insurance industry?
Tim, while you bring up good points, the fact remains that some day, it will happen again. So, the windfall today could very well come into play tomorrow. With out the reserve, what would be the end effect? How much premium has been collected by carriers?
Just playing Doom & Gloom. We all know that side of the world hates us.
From an accounting standpoint, are credible statistics available that estimate the amount of premium dollars US Businesses have paid for Terrorism Insurance under the Act verses the losses paid out by insurance companies and the Federal Government? This would be helpful information concerning this subject matter. While its a matter of time before another major terrorism incident occurs around the world or on our soil which is an important fact to remember, I wonder whether the ACT has proven to be a windfall for the insurance industry?
Tim, while you bring up good points, the fact remains that some day, it will happen again. So, the windfall today could very well come into play tomorrow. With out the reserve, what would be the end effect? How much premium has been collected by carriers?
Just playing Doom & Gloom. We all know that side of the world hates us.