American Politics And Insurance

Many Americans have many more complaints with the American government and politics, and how ill-prepared the government was for helping American citizens before, during, and after Hurricane Katrina struck is only one example. However, it is apparent that the American government and the politics that surround it are not just sitting around waiting for the next disaster to strike – they have been making preparations, and not just for natural disasters such as hurricanes.

Natural disasters are not the only emergencies in which organizations have been founded to help citizens when insurance policies are nonexistent, or not enough; organizations such as the Federal Emergency Management Agency, better known as FEMA, have stepped in and helped during troubled times. However, past terrorist attacks, and present risks of terrorist attacks, have prompted the federal government to get involved and pass the Terrorism Risk Insurance Act, also known as TRIA.

TRIA may not be an organization like FEMA, but the act is designed arrange a provisional program that makes sure both citizens and insurance companies are prepared – as prepared as can be – in the event of a terrorism attack. TRIA does this by guaranteeing that the federal government will share the costs of losses due to terrorism attacks with insurance companies. This helps ensure that insurance companies will not, for lack of better terms, run out of money. It also helps ensure that American citizens provided with the help they needs, as well as be compensated for their losses.

Insurance companies were not adequately prepared for the financial losses that resulted from the September 11, 2001 terrorist attacks, and had to rely heavily on reinsurers, companies that make available insurance to insurance companies, to help pay the cost of damages. Now that TRIA is in effect, insurance companies are at less risk for being inadequately funded. Plus, the time it takes to underwrite an insurance policy is reduced since the losses have been reduced.

About the Author:

Home Owners Insurance Quote Iowa Car Insurance Quotes Kansas Purchase A Term Life Insurance Policy

 Elizabeth Newberry

More Articles 

Macaca And Terror Politics - America Is Headed The Wrong Way! - James Opiko
"Let's give a welcome to Macaca, here. Welcome to America and the real world of Virginia." -- Sen. George Allen, Republican Presidential hopeful calling a student of Indian descent a "Monkey" in coded racist language. Allen then began talking about...

Office Politics: Survival of the Savvy - Patsi Krakoff
Tales of political sabotage, power plays and turf wars are part of any organization’s history. Nonetheless, political competence is the one skill everyone wishes to have more of—but no one admits to it.... There’s...

How Does Religion Affect America's Economy and Politics - Jane Lee
Introduction Religion is a persons believe or faith, regarding to the existence and divinity of God or gods. There are several different religions practiced in the Unites States of which the majority consists of Christians,...

The Politics Of Massage: Alternative or Mainstream Treatment? - J Terrence McDermott
I tend to view massage therapy independently of broader categories of therapy, healing or other restorative practices or systems. I am inclined to do this because I am cautious about allowing massage to be classified as a traditional...

Tales Of Hollywood And Politics - Stephen Schochet
Arnold Schwarzenegger's surprise announcement that he was seeking the California Governorship brought to mind the many times Hollywood figures have been involved in politics. Here are some related anecdotes: When actors first came to...

Surviving Corporate Politics Part 2: Keeping Up Appearances - Gary Whittaker
Never a 2nd chance to make a 1st impression, or so the saying goes. We all know that when someone is introduced into your work environment for the first time, their peers size them up immediately. How they are dressed, how they talk, and how...

Are You Caught In Insurance Politics? - Elizabeth Newberry
Did you know that there are certain kinds of medical treatments that insurance companies refuse to cover, even if a doctor deems the treatment necessary? It’s true, and this truth may make you wonder, are politics involved when it comes to...

The Politics of Torture - Scott C Smith
When the now-infamous photographs of Iraqi prisoners being sexually humiliated at the hands of U.S. military police were made public, reaction was nearly unanimous: disgust and outrage that the U.S. military were abusing prisoners at the same prison...

Surviving Office Politics At Your New Job - Simone Emmons
Whether you are just starting your first job or your 10th job, you will find that office politics is consistent in all companies. Office politics is something that is inherent in any company you may work for. It's part of the culture and you...

ADHD - Politics, Money, or Science? - Shane Ellison
As a medicinal chemist I've had the opportunity to see a shockingly different side of Ritalin (methylphenidate) and ADHD than the media exposes. The Experimental Pharmacology Department of the American Cyanamid Company and the Merck Index report...

Surviving Corporate Politics Part 3 - Gary Whittaker
Opportunities Are Made, Not Created In the business of corporate politics, one thing has become very clear: Most business decisions are grown from the grassroots level. Sure, it may all seem likes it’s coming from corporate HQ, with announcements...

Politics and the Internet - Bernice Ly
According to a recent poll conducted by ComputerWorld, about forty percent of the population believes that people can increase their political power by going online. Hence, many academics believe that people in western societies are...