Should the U.S. Backstop Private Terrorism Risk Insurance – Forever? (July 2013)

In the following TIME opinion piece, adapted from his testimony before the US Congress, Erwann Michel-Kerjan, discusses the need to extend government-funded terrorism risk insurance – but with some market-oriented modifications. This article appeared end of June in Knowledge@Wharton and in MAMIC’s magazine.

The terrorism risk insurance program is supposed to expire in 18 months. But so far, there is no national consensus that this program should be extended.