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

City of St. Catharines

The City of St. Catharines is a vibrant city with small town qualities offering excellent opportunities to both residents and tourists. With a population of 132,000, the City is strategically located in the heart of the Niagara Peninsula and offers excellent access to the major markets of both Canada and the United States.

OTHER WHITEPAPERS
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Compliance with Internal Revenue Service (IRS) Publication 1075

whitePaper | June 26, 2022

The United States Internal Revenue Service’s (IRS) goal is to promote taxpayer confidence in the integrity of the tax system by ensuring confidentiality of the tax information provided to the federal, state and local agencies. The IRS 1075 publication provides guidance to agencies, agents, contractors and subcontractors on implementing adequate policies, processes, controls and safeguards to protect Federal tax information (FTI). The IRS 1075 requirements follow the FedRAMP and NIST 800-53 Rev.5 guidelines. Agencies that receive FTI must ensure that they have adequate programs in place to protect the data received in line with IRS 1075 guidelines. VMware Cloud on AWS GovCloud (US) has been authorized against the FedRAMP High baseline controls and therefore can support agencies in meeting the IRS 1075 requirements.

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PPIC Statewide Survey: Californians and Their Government, January 2020

whitePaper | January 16, 2020

Less than two months before California’s presidential primary, the Democratic primary remains a three-way race between Bernie Sanders, Joe Biden, and Elizabeth Warren. Most Californians say President Trump should be removed from office and disapprove of his handling of the situation with Iran. These are among the key findings of a statewide survey released today by the Public Policy Institute of California.

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Repurposing Government Spectrum for Licensed Commercial Use: A Win-Win for Wireless Providers and Federal Agencies

whitePaper | August 11, 2020

The federal government is the United States’ largest spectrum user. This is no surprise given the multitude of federal missions, from defending the nation to air traffic control to everyday agency communications. Federal communications systems, however, often rely on decades-old wireless technologies, have limited capabilities, and are less spectrally efficient.

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The Impact of the Trump Labor Market on Historically Disadvantaged Americans

whitePaper | December 19, 2019

The U.S. labor market is the strongest it has been in the last half century, as shown by economic data across various metrics. This is partly attributable to President Trump’s progrowth economic policies, the results of which are disproportionately benefiting Americans who were previously left behind. The Administration’s policies are boosting labor demand and lowering structural barriers to entering the labor market. This report provides evidence that this labor market has contributed to reduced inequality through an economic boom that is greatly benefiting historically disadvantaged groups. These groups are becoming more and more self-reliant through their economic activity, rather than remaining inactive in the labor market to qualify for means-tested government programs.

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US–China Strategic Competition The Quest for Global Technological Leadership

whitePaper | November 9, 2019

The underlying driver of the ongoing US–China trade war is a race for global technological dominance. President Trump has raised a number of issues regarding trade with China – including the US’s trade deficit with China and the naming of China as a currency manipulator. But at the heart of the ongoing tariff escalation are China’s policies and practices regarding forced technology transfer, intellectual property theft and non-market distortions.

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Open Public Services White Paper

whitePaper | July 1, 2022

We believe that more open public services can benefit everybody in the UK and that finding ways to deliver better services for less money is a challenge that is common to all four nations of the UK. The scope of this paper is UK wide, but in devolved areas of policy it is for the devolved administrations to determine their own approach to public service reform. The three devolution settlements in Scotland, Wales and Northern Ireland are all different although, in general, services such as health, education and those provided by local government are under devolved control. If you live or work in any of the devolved territories and are in any doubt as to which of these reforms would apply there, the relevant territorial office will be able to advise you. We are committed to working in partnership with the devolved administrations to share good practice and to explore whether our approach would suit their particular circumstances and need.

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Spotlight

City of St. Catharines

The City of St. Catharines is a vibrant city with small town qualities offering excellent opportunities to both residents and tourists. With a population of 132,000, the City is strategically located in the heart of the Niagara Peninsula and offers excellent access to the major markets of both Canada and the United States.

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