Episode 687 • • 1:29:42 - 1:32:19
687: Cyber Caliphate
Terrorism Risk Insurance Act, Reauthorization and Taxpayer Liability
President Obama signed H.R. 26, the Terrorism Risk Insurance Program Reauthorization Act of 2015, which keeps the government on the hook for up to $100 billion per terrorist event until 2020. The hosts discuss how insurance companies no longer cover terrorism, leaving taxpayers as the ultimate reinsurers. They reference Larry Silverstein's insurance claims after 9/11 as a precedent for the "scam" of government-backed insurance.