Federal Reinsurance for Terrorism Risk in 2015 and Beyond

The reauthorization of the federal government’s terrorism risk insurance program in January 2015 helps ensure that private insurance for commercial property and casualty losses caused by terrorism remains widely available both before and after an attack. The Congressional Budget Office projects that the insurance program will increase federal spending by $3.1 billion and boost net revenues by about $3.5 billion over the next 10 years on an expected-value basis, but those average amounts incorporate a wide and unevenly distributed set of possibilities. Before the program’s reauthorization in January 2015, CBO analyzed a variety of options for federal support of terrorism risk insurance. This paper examines in more detail some options that might be considered in the future: shift more risk to insurers by raising their deductibles and copayments or by narrowing the scope of the program; strengthen policyholders’ incentives to mitigate losses by charging risk-based prices for the government’s support; and improve private insurers’ ability to offer coverage by changing the tax treatment of catastrophic reserves.

Spotlight

The Coalition for Government Procurement

The Coalition for Government Procurement advocates for common sense in government acquisition. The association represents over 300 firms selling commercial services and products to the federal government. Collectively, our member companies represent about half of commercial item sales made to the government each year.

OTHER WHITEPAPERS
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The State of Ransomware in State and Local Government 2022

whitePaper | September 19, 2022

Sophos' annual study of the real-world ransomware experiences of IT professionals in the state and local government sector has revealed an ever more challenging attack environment. Together with the growing financial and operational burden ransomware places on its victims, it also shines new light on the relationship between ransomware and cyber insurance - including how insurance drives changes to cyber defenses.

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Next-Generation Systems for Intelligent, Efficient, Citizen-Centric Government

whitePaper | March 15, 2022

The COVID-19 pandemic increased pressure on senior civil servants to do things differently. Citizen trust in government grew to an all-time high in 2020 in many countries, according to the OECD1 . This trust in public institutions empowered governments across Europe and the Middle East to respond rapidly and plan bold investments for an inclusive recovery centered on innovation, digital and climate transitions, and resilience2 . With bold plans came elevated expectations to procure goods and services more efficiently and effectively, scale investments in digital infrastructure, and deliver seamless services to citizens and businesses, while making sure that costs do not spiral out of control, in the medium-to-long term

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GOVERNMENT WHITE PAPER ON THE REPORT OF THE TRUTH RECONCILIATION AND REPARATIONS COMMISSION

whitePaper | May 25, 2022

On 22 July 1994, then 29-year-old army lieutenant Yahya Abdul-Aziz Jemus Junkung Jammeh came to power through a military coup d’état – having ousted the democratically elected President Sir Dawda Kairaba Jawara. For 22 years, Yahya Jammeh ruled The Gambia with an iron fist. During his regime, extrajudicial killings, rape, torture, enforced disappearances, and numerous grievous human rights violations became part and parcel of his military Junta.

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Digital Trust

whitePaper | November 1, 2022

Digitalisation offers new approaches to trust. Competitors who do not see eye-to-eye can still transact efficiently because technologies such as privacy-enhancing technologies, distributed ledgers (also called shared ledgers), coupled with good governance in processes now enable these interactions even without parties knowing who they transact with.

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Guide to Empowering a Mobile Workforce for State & Local Government

whitePaper | April 16, 2020

For government employees, work isn’t a place anymore. It’s something they do, wherever and whenever the need arises. To reach decisions, build relationships, manage finances, and drive strategic value—even with today’s tight resources—mobile workers need the freedom to move beyond agency walls without leaving behind the resources they need to be effective. They need to be able to do anything, anywhere, and on whatever device is most convenient—including their own personal devices—from laptops to the latest tablets and smartphones.

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Government Special Report

whitePaper | December 27, 2021

Government Financial & Operational Management Special Report Identifying the challenges that face your governmental entity is oftentimes the first step in helping position your government for future success. Are you able to balance the needs of your community while efficiently managing and reporting on the services you’re charged with providing?

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Spotlight

The Coalition for Government Procurement

The Coalition for Government Procurement advocates for common sense in government acquisition. The association represents over 300 firms selling commercial services and products to the federal government. Collectively, our member companies represent about half of commercial item sales made to the government each year.

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