Managing Economic Risk in the Age of Terror
Managing Economic Risk in the Age of Terror
The Role of Government in the Private Insurance Market
The attacks of September 11 cost al Qaeda roughly $500,000 to plan and execute, but created up to $500 billion in economic impact, including an estimated $90 billion in the New York metropolitan area. The insurance industry paid more than $30 billion in claims for a risk it had not anticipated within the
Congress is now considering renewal of the Terrorism Risk Insurance Act and the Center for American Progress has invited economic and security experts, together with corporate representatives, to consider what Congress should do now and how to protect the
Janice M. Abraham, President and CEO, United Educators Insurance
Frank J. Cilluffo, Associate Vice President for Homeland Security, The
Dr. Lloyd Dixon, Senior Economist, RAND
Michael T. Gray, President and Director, Gray Insurance Company
Dr. Erwann Michel-Kerjan, Managing Director, Risk Management and
Bradley Wood, Senior Vice President of Risk Management, Marriott International, Inc
P.J. Crowley, Senior Fellow and Director of Homeland Security, Center for American Progress
Dr. Christian Weller, Senior Fellow and Senior Economist, Center for American Progress
Monday, May 21, 2007
Program: 9:00am to 12:00pm
Admission is free.
A light breakfast will be served.
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Janice M. Abraham joined United Educators Insurance as President and CEO in January 1998. Ms. Abraham served the higher education community through her work as Chief Financial Officer/Treasurer at
Frank J. Cilluffo is Associate Vice President for Homeland Security and Director, Homeland Security Policy Institute at The George Washington University. He leads the University’s homeland security efforts on policy, research, education, and training and directs the multi-disciplinary Homeland Security Policy Institute (HSPI), a unique, nonpartisan “think and do tank” that builds bridges homeland security theory and practice. The Institute’s recent policy and research agenda has spanned domestic terrorism and radicalization, disaster management and emergency preparedness, pandemic influenza planning and bio-defense, intelligence and information sharing, and a host of other national and homeland security matters. He also teaches a graduate level course on counterterrorism and homeland security at the Elliott School of International Affairs. Cilluffo joined GW in April 2003 from the White House where he served as Special Assistant to the President for Homeland Security. Shortly following the September 11, 2001 terrorist attacks on the
Philip J. (P.J.) Crowley is a Senior Fellow and Director of National Defense and Homeland Security at the Center for American Progress. During the Clinton administration, Crowley was Special Assistant to the President of the
Prior to joining American Progress, he served as a national spokesman for the property/casualty insurance industry, focusing on strategic industry issues that included the impact of terrorism on commercial insurance in the aftermath of the
Dr. Lloyd Dixon is a senior economist at the RAND Corporation who was recently named one of the Institute for Civil Justice (ICJ) Distinguished Scholars for 2006-2007, recognized for his leadership in developing a research agenda in insurance, liability, and compensation for catastrophic events. Two of his studies, Compensation for Losses from the 9/11 Attacks and Issues and Options for Government Intervention in the Market for Terrorism Insurance, have formed the basis for continuing research in this area. Dr. Dixon’s areas of expertise include the environment, expert evidence, insurance issues, national flood insurance protection, and terrorism risk insurance. Dr. Dixon has a Ph.D. in economics from the University of California, Berkeley, and a B.A. in political science and a B.S. in general engineering from Stanford University.
Michael T. Gray is the President and Director since 1996 of The Gray Insurance Company, a Louisiana-based Property and Casualty company founded in 1978. He has held executive and senior-management positions in the insurance industry for the past 24 years. Gray is the co-founder of The Gray Casualty & Surety Company in 1996 and has served as a Director of the Louisiana Insurance Guaranty Association since 1995.
Dr. Erwann O. Michel-Kerjan is Managing Director of the
Clifton E. (Chip) Rodgers, Jr. is senior vice president of The Real Estate Roundtable, which is
As the Roundtable’s principal government relations and public policy strategist for credit, capital market and risk management policy issues, Rodgers has been involved in every major piece of financial services legislation and regulatory action for over a decade. In this capacity, he devises and implements government and public affairs strategies, analyzes policy issues, advises clients, develops communications and messaging to policymakers and coordinates coalition tactics. In addition to his position at the Roundtable, Rodgers works with the Advisory Board of the RAND Corporation’s Center for Terrorism Risk Management Policy. He is a founding member of the steering committee of the Coalition to Insure Against Terrorism (CIAT); a founding director of the Bank of Georgetown in Washington, DC, and serves as an industry trade advisor to the Office of the U.S. Trade Representative and the U.S Department of Commerce. He has also served on a number of other civic, educational and corporate boards. He is listed in Who’s Who in
A native of Pennsylvania, Rodgers earned his B.A. from
Dr. Christian E. Weller is a Senior Fellow at the Center for American Progress. His expertise is in the area of retirement income security, macroeconomics, and international finance. Prior to joining the Center, he was on the research staff at the Economic Policy Institute, where he remains a research associate. Dr. Weller has also worked at the Center for European Integration Studies at the
Bradley Wood is Senior Vice President of Risk Management for Marriott International, Inc., having enterprise-wide responsibilities for Marriott’s risk management organization, including global insurance and self-funded programs, safety and security, claims administration, occupational health services, crisis management, business continuity planning, risk finance and systems. Mr. Wood is a member representative of the Steering Committee to the Coalition to Insurance Against Terrorism (CIAT), which represents a wide range of business insurance policyholders on the federal Terrorism Risk Insurance Act. His efforts towards this legislative milestone have been widely recognized, including as the recipient of the 2003 Richard W. Bland Award by the Risk & Insurance Management Society and the 2005 Business Insurance Risk Management Honor Roll Award. Mr. Wood has an M.B.A. from The University of Wisconsin and maintains the Chartered Property & Casualty Underwriter (CPCU) and Associate in Risk Management (ARM) professional designations. He is a member of AIG’s National Accounts Advisory Board, the National Summit for Pandemic Influenza Advisory Board and served on FM Global’s Risk Management Executive Council. Mr. Wood’s views on terrorism and political risk insurance, alternative risk financing, business continuity and reputation risk have been frequently chronicled in business and trade publications.