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Wege zur Versicherung des Terrorrisikos

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  • Bruno Gas
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    Abstract

    This article analyses the economic impact of terrorism on different countries and discusses the impact of terrorism on their property insurance markets. In the aftermath of September 11, 2001 co-operation between governments and the national insurance industries has often been necessary to ensure an adequate supply of insurance coverage. Therefore the article justifies this co-operation as an exception to general economic principles. Furthermore, the article presents an insight on the construction of the German terrorism insurer Extremus. It discusses the characteristic elements and distinguishes Extremus from solutions in other countries. Finally, the article argues that in the future alternative risk transfer will not be a real replacement for terrorism insurance and that international co-operation of governments to establish a world-wide terrorism cover will be extremely difficult. Copyright Verein für Socialpolitik und Blackwell Publishers Ltd, 2005

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    Bibliographic Info

    Article provided by Verein für Socialpolitik in its journal Perspektiven der Wirtschaftspolitik.

    Volume (Year): 6 (2005)
    Issue (Month): 4 (November)
    Pages: 471-498

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    Handle: RePEc:bla:perwir:v:6:y:2005:i:4:p:471-498

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Jeffrey R. Brown & J. David Cummins & Christopher M. Lewis & Ran Wei, 2004. "An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance," NBER Working Papers 10388, National Bureau of Economic Research, Inc.
    2. Howard Kunreuther & Erwann Michel-Kerjan & Beverly Porter, 2003. "Assessing, Managing, and Financing Extreme Events: Dealing with Terrorism," NBER Working Papers 10179, National Bureau of Economic Research, Inc.
    3. Eckstein, Zvi & Tsiddon, Daniel, 2004. "Macroeconomic Consequences of Terror: Theory and the Case of Israel," CEPR Discussion Papers 4427, C.E.P.R. Discussion Papers.
    4. Erwann Michel-Kerjan & Burkhard Pedell, 2005. "Terrorism Risk Coverage in the Post-9/11 Era: A Comparison of New Public–Private Partnerships in France, Germany and the U.S.*," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 30(1), pages 144-170, January.
    5. Walter T Karten, 1997. "How to Expand the Limits of Insurability*," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 22(4), pages 515-522, October.
    6. Todd Sandler, 2003. "Collective Action and Transnational Terrorism," The World Economy, Wiley Blackwell, vol. 26(6), pages 779-802, 06.
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    Cited by:
    1. Nguyen, Tristan, 2006. "Ist die staatliche Risikoübernahme bei Terrorismusrisiken mit dem europäischen Wettbewerbsrecht vereinbar?," German Risk and Insurance Review (GRIR), University of Cologne, Department of Risk Management and Insurance, vol. 2(1), pages 1-29.

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