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Regulatory Issues Regarding TRIA and Terrorism Coverage Midwest Actuarial Forum

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Midwest Actuarial Forum. John Pedrick. Ohio Department Of Insurance ... 'States should grant conditional approval to commercial lines endorsements that ... – PowerPoint PPT presentation

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Title: Regulatory Issues Regarding TRIA and Terrorism Coverage Midwest Actuarial Forum


1
Regulatory Issues RegardingTRIA and Terrorism
CoverageMidwest Actuarial Forum
  • John Pedrick
  • Ohio Department Of Insurance
  • September 23, 2004

2
Size of the US IndustryPolicyholders Surplus(
Millions)
3
Pricing and Modeling
  • Black Box Problems
  • Usefulness of Results
  • Unified Industry Analysis
  • Competitive Pricing for Terrorist Acts Coverage

4
What Happens After TRIA?
Pre-TRIA
Post-TRIA
5
NAIC Statement, Pre-TRIACommercial Lines
  • States should grant conditional approval to
    commercial lines endorsements that exclude
    coverage for acts of terrorism consistent with
    the exclusion framework developed by ISO

6
NAIC Statement, Pre-TRIA Personal Lines
  • It is the sense of the NAIC membership that
    terrorism exclusions are generally not necessary
    in personal lines property and casualty products
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