The Magazine

Insurance Against Terrorism

An alternative to unlimited liability for taxpayers.

Aug 10, 2009, Vol. 14, No. 44 • By ELI LEHRER
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The idea needs further refinement. But it's well worth considering. Replacing TRIA with a private system won't be easy. But leaving TRIA in place sticks the American taxpayer with nearly limitless liability for the coverage of private property. If the government would only facilitate its emergence, however, it seems that a private solution could be found to pay the bills for terrorist attacks.

Eli Lehrer is a senior fellow at the Competitive Enterprise Institute, where he directs the Center for Risk, Regulation, and Markets.