Insurers need TRIA just like banks need FDIC.(A View From The Top)(Terrorism Risk Insurance Act of 2002 and Federal Deposit Insurance Corp.)

National Underwriter Property & Casualty-Risk & Benefits Management, January, 2005 by Ayer, Ramani

During the last 100 years, America has endured a handful of shocking events, two of which require little more than a date to conjure up awful memories--Sept. 11, 2001 and Oct. 29, 1929. Lessons learned from the earlier of these two events--the "Black Tuesday" stock market crash--and the guardrails put in place to prevent a similar blow to the economy offer a striking way to look at future terrorist attacks and how we might best prepare for them.

On Black Tuesday, the nation reeled as investors panicked and the stock market went into a free-fall. The crash opened the floodgates to the Great Depression--an era when investors lost billions of dollars, unemployment skyrocketed, and thousands of domestic banks failed. Amid this crisis, the country looked to the...

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