首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
Of all the catastrophes that could befall America in coming years, a big terrorist attack, perhaps even bigger than those on Sep
Of all the catastrophes that could befall America in coming years, a big terrorist attack, perhaps even bigger than those on Sep
admin
2010-12-21
123
问题
Of all the catastrophes that could befall America in coming years, a big terrorist attack, perhaps even bigger than those on September 11 th 2001, may be more likely than others. Who would pay for the millions in property damage, business losses and other claims from such an attack?
This is the question with which America’s Congress is currently wrestling. The Terrorism Risk Insurance Act (TRIA) was passed as a temporary measure after September 11th to provide a government back-stop for the insurance industry in the event of a catastrophic attack. It now says government can step in when insured losses from a terrorist event top $5m. TRIA has helped to stabilize the market, and enabled insurers to continue offering terrorism-risk cover even after swallowing the big losses imposed by September llth. But unless Congress acts last, TRIA will expire at the end of the year. One likely result is the loss of terrorism-risk cover for thousands of firms and property owners. This, in turn, could disrupt businesses and make some commercial activity impossible. With modifications, TRIA should be extended.
The Bush administration has been opposed to extension. It has always seen TRIA as a short-term measure, and has argued that the private sector should assume sole responsibility for terrorism insurance. This is the right goal. A purely private solution would be best, lifting any future burden-from the taxpayer and relying on the industry to price and spread risks more accurately than any government can do. But relying entirely on the private sector immediately does not look feasible. With TRIA’s expiration looming, insurers and reinsurers have not, as the administration expected, rushed to write new contracts for next year offering to fall gaps in terrorism cover.
Why the hesitation? Unlike other risks, the threat of terrorism cannot be forecast in time or scope, making a mocker’:" of insurers’ underwriting models. A big chemical, biological or nuclear attack is a prospect few can price, or afford to cover. Insurers are already being threatened with downgrades by rating agencies for the terrorism cover they have sold.
One reason is that insurance, far from being a free market, is already one of the most heavily regulated of industries. Operating in a highly distorted marketplace, with 50 state regulators, the insurance industry seems to be having trouble pricing the largest of terrorism risks in a way that is credible and can still offer insurers a profit. Letting TRIA expire, and abruptly withdrawing the government role in insuring the largest losses, would just exacerbate this problem.
Any renewal of TRIA should, once again, be limited to two years, say. Its extension must also shift more of the burden, and the business, to the private sector. If an extension is agreed and TRIA’s threshold for government intervention is raised substantially, work should begin now to find better longer-term solutions. One place to look is abroad, where governments have dealt with terrorism risk for years. In Britain, for instance, insurers have created a pool of capital that is backed by the government and, over time, shifts a greater share of risk on to the private sector. Other options to consider include tax changes that reduce the cost of holding capital by insurers and reinsurers, and facilitating the use of catastrophe bonds.
With fewer regulatory distortions of insurance markets, a solely private solution may be attainable in the long run. In the current environment, though, the same government that regularly warns of terrorist threats must still have a role to play in a solution that safeguards America’s financial security. It would be better to plan ahead than wait for a rushed, Katrina-style bail-out after a big attack. Amid all the uncertainties, one thing seems clear: any such bail-out would be more costly and lead to even greater market distortions without an extension of the Terrorism Risk Insurance Act today.
The writer is ______ in developing the argument in this passage.
选项
A、objective
B、emotional
C、disturbed
D、indifferent
答案
A
解析
整篇文章作者只是客观介绍TRIA的运作,发挥的作用以及其延期中应做的修改,并未掺杂个人观点,选项A正确。
转载请注明原文地址:https://kaotiyun.com/show/2Hua777K
本试题收录于:
翻译硕士(翻译硕士英语)题库专业硕士分类
0
翻译硕士(翻译硕士英语)
专业硕士
相关试题推荐
homelandsecurity
Generouspublicfundingofbasicsciencewould______considerablebenefitsforthecountry’shealth,wealthandsecurity.
Althoughspecificconcernsmaydeterminetheintentofaresearchproject,itsresultsareoften______.
Thetransitionfromforesttotreelesstundraonamountainslopeisoftenadramaticone.Withinaverticaldistanceofjusta
Thefathergavehissonahorse,whichwasconsideredextravagantbytherestofthefamily.
Foramanwhowantstheworldtoslowdown,CarlHonore’smomentofclaritycamein,ofallplaces,anairport.TheCanadianjo
ThegrammaticalwordswhichplaysolargeapartinEnglishgrammarareforthemostpartsharplyandobviouslydifferent
Theageatwhichyoungchildrenbegintomakemoraldiscriminationsaboutharmfulactionscommittedagainstthemselvesorothers
Pricesreachequilibriumatthelevelatwhichquantitydemanded______quantitysupplied.
Whentheyoungmanrealizedthatthepolicehadspottedhim,hemade______theexitasquicklyaspossible,onlytofindthattwo
随机试题
试述我国目前面临的主要就业问题。
________,顾龙门而不见。
某患儿,6岁。突发高热,体温40℃,心率110次/分,血压150/90mmHg,频发惊厥,瞳孔大小不等。家属诉6小时前曾误食变质食物,该病人最可能的诊断为()
食管癌的早期症状是
背景:某公司中标一栋24层住宅楼,甲乙双方根据《建设工程施工合同(示范文本)》GF—2017—0201签订施工承包合同。项目实施过程中发生如下事件:事件一:公司委派另一处于后期收尾阶段项目的项目经理兼任该项目的项目经理。由于项目经理较忙,责成项目总工程
()要做遵纪守法的表率,支持会计人员依法开展工作。
出版社经营的决策过程包括()等步骤。
子网划分的作用是什么?
下列技术中属于以空间换时间的是()。Ⅰ.SPOOLing技术Ⅱ.虚拟存储技术Ⅲ.缓冲技术Ⅳ.通道技术
下列选项中,不属于数据模型所描述的内容的是()。
最新回复
(
0
)