Terrorism Risk Insurance Symposium at USC

June 6, 2005

What: The National Symposium on the Future of Terrorism Risk Insurance will bring researchers, corporate leaders and policymakers together to discuss the relationship between terrorism risk, insurance, national security and public policy.

The symposium will focus on whether the private insurance industry, which played a critical role in the nation's recovery after the Sept. 11 attacks, would be able to do so again if faced with another large-scale domestic terrorist attack.

Topics will include:

• the economics of terrorism insurance;
• whether insurance can cover Weapons of Mass Destruction;
• insuring for the future in the face of the terrorism threat;
• national security and terrorism insurance;
• how the insurance industry will prepare for the threat;
• insurance and the catastrophic loss of human life; and
• workers' compensation, life insurance and victim compensation.

When: Monday, June 20 from 8 a.m. to 3:30 p.m. Mark Warshawsky, the U.S. Department of the Treasury's assistant secretary for economic policy, will deliver the keynote address at 12:15 p.m.

Where: USC

University Park campus, Town and Gown building, 665 Exposition Boulevard. Enter campus through Gate 3, Figueroa Street, south of Jefferson Boulevard. Parking is free with a press pass.

Participants

• Randolph Hall, senior associate dean for research, principal investigator/director of the Center for Risk and Economic Analysis of Terrorism Events, or CREATE, at USC
• Robert T. Reville, co-director of the Rand Center for Terrorism Risk Management Policy and director of the Rand Institute for Civil Justice
• Neil A. Doherty, professor of insurance and risk management, The Wharton School, University of Pennsylvania
• Terry O'Sullivan, postdoctoral researcher, CREATE at USC
• Detlof von Winterfeldt, co-director, CREATE at USC; professor and deputy dean, USC School of Policy, Planning, and Development
• Hemant H. Shah, president and CEO, Risk Management Solutions Inc.
• Peter S. Lowy, chief executive officer, Westfield Corp. Inc.
• David Torregrosa, economist, Congressional Budget Office
• Debra Ballen, executive vice president, American Insurance Association
• David Bellusci, chief actuary, California Workers' Compensation Insurance Rating Bureau
• Lloyd Dixon, senior economist, Rand Corp.
• Scott Harrington, professor of health care systems, The Wharton School, University of Pennsylvania
• Michael Wermuth, director, Rand Homeland Security Program
• Brian Melas, senior vice president, Commercial Markets, Liberty Mutual Insurance Co.

Sponsors: The symposium is sponsored by the Rand Corp.'s Center for Terrorism Risk Management Policy, the U.S. Department of Homeland Security through the Center for Risk and Economic Analysis of Terrorism Events at USC, the Wharton Risk Management and Decision Processes Center at the University of Pennsylvania, and The Communications Institute.

Background: Following the Sept. 11, 2001 attacks, the U.S. Congress passed the 2002 Terrorism Risk Insurance Act, or TRIA, which created a three-year federal program to support the "growth and stability of the market for private insurance against losses from terrorist attacks in order to protect the public."

The U.S. Department of the Treasury will report on the status of the program — which is scheduled to expire this year — to provide a basis for the Congress to debate the law's renewal.

The symposium is intended as an educational program for policymakers, government and business leaders and media to expand understanding of terrorism risk insurance in the U.S.

For more information on the symposium, go to www.tci1.org. The registration fee for members of the public is $75.