Abstract
This is an opinion editorial published in the National Law Journal. It argues that subsidized terrorism insurance is corporate welfare. Consistent with the findings of the Congressional Budget Office, subsidized insurance does not reduce the cost of terrorism, but instead shifts the cost from insurance companies and corporations to the American taxpayers. Moreover, subsidized insurance over the long term tends to increase the cost of terrorism because premiums are not sensitive to mitigation efforts. Thus, subsidized terrorism insurance runs counter to the national interest.
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