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Federal Reinsurance for Terrorism Risk and Its Effects on the Budget: Working Paper 2020-04

Author

Listed:
  • Perry Beider
  • David Torregrosa

Abstract

This paper describes CBO's methods for estimating the costs of the federal terrorism risk insurance program. It also discusses how estimates of the program's budgetary effects would differ if they were produced using accrual-based measures rather than cash-based measures.

Suggested Citation

  • Perry Beider & David Torregrosa, 2020. "Federal Reinsurance for Terrorism Risk and Its Effects on the Budget: Working Paper 2020-04," Working Papers 56420, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:56420
    as

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    File URL: https://www.cbo.gov/system/files/2020-06/56420-CBO-TRIA.pdf
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    References listed on IDEAS

    as
    1. Congressional Budget Office, 2015. "Federal Reinsurance for Terrorism Risk: An Update," Reports 49866, Congressional Budget Office.
    2. Congressional Budget Office, 2018. "Measuring the Costs of Federal Insurance Programs: Cash or Accrual?," Reports 53921, Congressional Budget Office.
    3. Kunreuther,Howard C. & Pauly,Mark V. & McMorrow,Stacey, 2013. "Insurance and Behavioral Economics," Cambridge Books, Cambridge University Press, number 9780521608268, September.
    4. Congressional Budget Office, 2015. "Federal Reinsurance for Terrorism Risk: An Update," Reports 49866, Congressional Budget Office.
    5. Perry Beider & David Torregrosa & Susan Willie, 2015. "Federal Reinsurance for Terrorism Risk in 2015 and Beyond: Working Paper 2015-04," Working Papers 50171, Congressional Budget Office.
    6. Kenneth A. Froot, 2008. "The Intermediation of Financial Risks: Evolution in the Catastrophe Reinsurance Market," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 11(2), pages 281-294, September.
    7. Howard Kunreuther, 2015. "The Role of Insurance in Reducing Losses from Extreme Events: The Need for Public–Private Partnerships†," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 40(4), pages 741-762, October.
    8. Kunreuther,Howard C. & Pauly,Mark V. & McMorrow,Stacey, 2013. "Insurance and Behavioral Economics," Cambridge Books, Cambridge University Press, number 9780521845724, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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