American Politics And Insurance
Author: Elizabeth Newberry
Author: Elizabeth Newberry
Many Americans have many more complaints with the American
government and politics, and how ill-prepared the government
was for helping American citizens before, during, and after
Hurricane Katrina struck is only one example. However, it is
apparent that the American government and the politics that
surround it are not just sitting around waiting for the next
disaster to strike – they have been making preparations, and
not just for natural disasters such as hurricanes.
Natural disasters are not the only emergencies in which
organizations have been founded to help citizens when insurance
policies are nonexistent, or not enough; organizations such as
the Federal Emergency Management Agency, better known as FEMA,
have stepped in and helped during troubled times. However, past
terrorist attacks, and present risks of terrorist attacks, have
prompted the federal government to get involved and pass the
Terrorism Risk Insurance Act, also known as TRIA.
TRIA may not be an organization like FEMA, but the act is
designed arrange a provisional program that makes sure both
citizens and insurance companies are prepared – as prepared as
can be – in the event of a terrorism attack. TRIA does this by
guaranteeing that the federal government will share the costs
of losses due to terrorism attacks with insurance companies.
This helps ensure that insurance companies will not, for lack
of better terms, run out of money. It also helps ensure that
American citizens provided with the help they needs, as well as
be compensated for their losses.
Insurance companies were not adequately prepared for the
financial losses that resulted from the September 11, 2001
terrorist attacks, and had to rely heavily on reinsurers,
companies that make available insurance to insurance companies,
to help pay the cost of damages. Now that TRIA is in effect,
insurance companies are at less risk for being inadequately
funded. Plus, the time it takes to underwrite an insurance
policy is reduced since the losses have been reduced.
About The Author: http://www.ezquoteguide.com/home/
http://www.ezquoteguide.com/car/
http://www.myquoteguide.com/Term-Policy.shtml
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=98525
government and politics, and how ill-prepared the government
was for helping American citizens before, during, and after
Hurricane Katrina struck is only one example. However, it is
apparent that the American government and the politics that
surround it are not just sitting around waiting for the next
disaster to strike – they have been making preparations, and
not just for natural disasters such as hurricanes.
Natural disasters are not the only emergencies in which
organizations have been founded to help citizens when insurance
policies are nonexistent, or not enough; organizations such as
the Federal Emergency Management Agency, better known as FEMA,
have stepped in and helped during troubled times. However, past
terrorist attacks, and present risks of terrorist attacks, have
prompted the federal government to get involved and pass the
Terrorism Risk Insurance Act, also known as TRIA.
TRIA may not be an organization like FEMA, but the act is
designed arrange a provisional program that makes sure both
citizens and insurance companies are prepared – as prepared as
can be – in the event of a terrorism attack. TRIA does this by
guaranteeing that the federal government will share the costs
of losses due to terrorism attacks with insurance companies.
This helps ensure that insurance companies will not, for lack
of better terms, run out of money. It also helps ensure that
American citizens provided with the help they needs, as well as
be compensated for their losses.
Insurance companies were not adequately prepared for the
financial losses that resulted from the September 11, 2001
terrorist attacks, and had to rely heavily on reinsurers,
companies that make available insurance to insurance companies,
to help pay the cost of damages. Now that TRIA is in effect,
insurance companies are at less risk for being inadequately
funded. Plus, the time it takes to underwrite an insurance
policy is reduced since the losses have been reduced.
About The Author: http://www.ezquoteguide.com/home/
http://www.ezquoteguide.com/car/
http://www.myquoteguide.com/Term-Policy.shtml
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=98525
