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
2016-06-04
12
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 extension of TRIA should aim at ______.
选项
A、making government intervention more unacceptable
B、introducing foreign companies into terrorism insurance
C、setting up catastrophe bonds managed by insurers and reinsurers
D、pushing the private sector to take sole responsibility
答案
D
解析
倒数第二段谈及TRIA延期应注意的问题,指出“如果同意延期,政府干预也减少,那么工作重心就应该放在寻求better longer-term solutions上”,随后作者以英国为例解释了这一长期措施“将大部分风险负担转移给private sectors”,第三段,作者也提到a purely private solution would be best,选项D正确。
转载请注明原文地址:https://kaotiyun.com/show/dqua777K
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
()isalanguagephenomenonwhichreferstoitsmostdirectandspecificmeaningofawordoranexpression.
美国总统(ThePresidentoftheUnitedStatesofAmerica)是美利坚合众国的国家元首和政府首脑,同时是美国行政部门的最高领袖与三军统帅,一般被称为Mr.President(总统先生)。依据《美利坚合众国宪法》第二条
Whenitwaspublishedin1959,RobertFrank’sbook,TheAmerican,______hostilityintheUnitedStates.
Inordertobesuccessfulasanengineer,shehadtobecome______atmathematics.
Mysisterisquite______andplanstogetanM.A.degreewithinoneyear.
Ingeneral,oursocietyisbecomingoneofgiantenterprisesdirectedbyabureaucraticmanagementinwhichmanbecomesasmall,
Low-levelslash-and-bumfarmingdoesn’tharmrainforest.Onthecontrary,ithelpsfarmersandimprovesforestsoils.Thisisth
Manypoliticalproblemsaresocomplicatedthatthelaymancannotseethewood______thetrees.
Nobodyknowsforsurehowmuchthesefreeofficialbanquetshavecostthepeople,butitmusthavereachedon______figure.(astro
________theirdifferences,thecoupleweredevelopinganobviousandgenuineaffectionforeachother.
随机试题
级别是确定公务员工资的惟一依据的国家是
下列哪项不是正中神经损伤的临床表现
初产妇,24岁。妊娠39周,规律宫缩9小时入院,查:骼棘间径24cm,坐骨结节间径7.5cm,枕左前位,胎心140/min。肛查宫口开大4cm,S=0。2小时后产妇呼叫腹痛难忍,检查宫缩1分钟一次,持续40秒,宫缩时胎心116/min,子宫下段压痛明显
施工单位因为违反施工合同而支付违约金后,建设单位仍要求其继续履行合同,则施工单位应()。【2005年考试真题】
风险监管的优点有很多,采用以风险为本的监管无疑更是一种最具成本效益的选择,它代表着国际银行业监管发展的趋势和方向,其优点和作用主要表现在()。
(2004年卷四第60题)以下关于说明书的撰写要求的哪些说法是错误的?
根据柯尔伯格的有关儿童道德判断发展阶段的研究,朴素的快乐主义和工具定向阶段属于()。
从所给的四个选项中,选择最合适的一个填入问号处,使之呈现~一定的规律性。
“苏格拉底法”/产婆术(2020年上海师大、2018年华东师大、2014/2018/2020年华中师大、2012年湖南师大、2011/2012/2013年东北师大、2011年北京师大、2011/2013/2015年浙江师大、2010/2012年南京师大、2
BSP强调向管理人员进行调查,因为管理部门对系统的要求是BSP方法的出发点,其目的是()。Ⅰ.核实已有资料Ⅱ.了解企业发展方向Ⅲ.确定存在的问题Ⅳ.寻找解决问题的方法
最新回复
(
0
)