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
2015-04-26
22
问题
Of all the catastrophes that could befall America in coming years, a big terrorist attack, perhaps even bigger than those on September 11th 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 $ 5 m. 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 11th. But unless Congress acts fast, TRIA will expire at the end of the year. One likely result is the loss of terrorism-risk cover for thousands of firms and proper-ty 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 shortterm 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 mockery 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.
TRIA______.
选项
A、provides insurance to properties in high-risk areas
B、should be extended as it is now
C、requires government support to risk insurance
D、has caused a substantial loss of revenue to the state
答案
C
解析
根据第二段可知,TRIA是政府实施的一项灾难袭击后provide a government back-stopfor the insurance industry措施,由政府财政支持保险业,而不是“向高危地区房地产提供保险”,选项C正确。从第二段可知,With modifications,TRIA should be extended,而不是保持现状来延期,选项B不正确。
转载请注明原文地址:https://kaotiyun.com/show/T5ua777K
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
targetlanguage
________wasthefirstEnglishwriterwhowasawardedNobelPrizeforliterature.
WhichworkdescribedthewarledbyAgamemnonagainstthecityofTroy?
Itisoftenamistaketo______appearance:thatpoor-lookingindividualisanythingbutpoor.Infact,thereisthePresidento
Ingeneral,oursocietyisbecomingoneofgiantenterprisesdirectedbyabureaucraticmanagementinwhichmanbecomesasmall,
Shedidn’tplantobecomeanactress.Shewantedtobesixfeettall.Shewantedtobeaveterinarian.Shewantedtobehappyan
Theotherdayanacquaintanceofmine,agregariousandcharmingman,toldmehehadfoundhimselfunexpectedlyaloneinNewYor
ThegrammaticalwordswhichplaysolargeapartinEnglishgrammarareforthemostpartsharplyandobviouslydifferent
Inthemachinelikeworldofclassicalphysics,thehumanintellectappears______,sincethemechanicalnatureofclassicalphysi
Thecoupledeparted______aheavyrain.
随机试题
在螺旋板式换热器中,流体只能做严格的逆流流动。()
简述企业财务管理的原则。
下列关于蛛网膜下腔出血的描述,不正确的是
患者,男性,85岁,结核病患者,伴全心衰竭。为其进行特殊口腔护理时发现口腔内有绿脓杆菌感染,护士应选择的漱口液是
王某为表现自己,就将造纸厂内一堆原料点燃后再去救火。但火势蔓延无法控制,后虽然王某和众人奋力扑救,但仍造成损失10万元,王某也被烧伤。王某的行为是( )。
在供暖工程施工中,散热器支管的坡度为()。
国际收支是国民经济总体指标之一,它反映一国与他国之间商品、劳务等全部交易状况。()
在我国的各种政治力量当中,民主党派也可实现对公安工作的领导。()
肉、禽、蛋等主要副食品与米、面等粮食价格的每次上涨,都会引起社会的广泛关注。客观看,有些价格上涨是合理的,有些上涨是不合理的。对此,政府和城镇居民要理性分析,尤其要善于倾听广大农民的心声,然后予以协调和平衡,使其价格趋于合理。在当今我国城乡二元体制没有打破
A、 B、 C、 D、 C本题考查动词搭配。在一个人做出的一系列动作中,一般时态要保持一致。这里前两个动作是一般过去式,而第三个动作变成了现在分词形式,明显是不对的。因此选C,改为disappeared。
最新回复
(
0
)