+The Council of Insurance Agents & Brokers, An Analysis of Catastrophic Risk Insurance Proposals (PDF — 461K)
"In reviewing various proposals to cover risk relating to natural or man-made catastrophes, the report focused on approaches to deal with natural disasters: H.R. 4366, the Homeowners' Insurance Protection Act of 2005; H.R. 846, the Homeowners' Insurance Availability Act of 2005 (HIAA); and tax deductible reserves.
"In addition, the authors looked at both the Terrorism Risk Insurance Act of 2002 (TRIA) and the extension of TRIA that was passed in 2005. That law, which provides a federal backstop for the commercial insurance industry in the event of a terrorist attack, will expire at the end of 2007 unless it is extended again.
"The study presents arguments advanced by advocates and critics of each of the proposals and assesses each in terms of potential effectiveness, analyzing the options but not endorsing any of the potential approaches." —Press release.