Can Anyone Comment on This Emerging Risk?

[wrxrex]

Hi,
I am a Temple University student studying RMI. I have chosen to do an assignment that requires me to research an emerging insurance/risk topic. The topic is about distressed cities with large budget cuts and how insurance is impacted by this as well as how business owners are affected. If anyone can comment with more knowledge about the topic it would be appreciated.
Link to the article from riskandinsurance.com

Distressed Cities: When the State Falls Short, Who Bears the Cost?

 

[Guest]

SPAM!!!!
You keep posting these stupid questions.

 

[wrxrex]

Not spam! Just questions I have about insurance topics. Nothing I asked was of topic from this forum.

 

[mmaedelins]

SPAM!!!!
You keep posting these stupid questions.

Why would this automatically be spam?? When I was in college, I often had to do things like this and I absolutely would have tried to contact a forum just like this.

Why not just help the kid out and give him some info for his report (he probably has at least a 20 page report to write)!!

 

[leevena]

Hi,
I am a Temple University student studying RMI. I have chosen to do an assignment that requires me to research an emerging insurance/risk topic. The topic is about distressed cities with large budget cuts and how insurance is impacted by this as well as how business owners are affected. If anyone can comment with more knowledge about the topic it would be appreciated.
Link to the article from riskandinsurance.com

Distressed Cities: When the State Falls Short, Who Bears the Cost?

You might want to be a little more specific about what type of risk you are researching. Is it health benefits, retirement, P&C as well as what the application or area of your interest will be. Your question is too wide-open.

 

[wrxrex]

Thank you for your responses! The area I am researching is P&C. I read a great article about it on riskandinsurance.com. The article discusses how cities with budget deficits are putting more risk on the insurance companies. For example police and firefighters are not responding as quickly which is leading to more damage. The insurance companies are paying higher claims because cities are cutting services. If anyone is an agent or can help me understand how this affects insurance please let me know!

 

[Josh]

SPAM!!!!
You keep posting these stupid questions.

This isn't spam.

Near as I can tell this is a student that either wants us to do their homework for them or as a moron for a professor (professors?)

 

[wrxrex]

This isn't spam.

Near as I can tell this is a student that either wants us to do their homework for them or as a moron for a professor (professors?)

I can do my own homework haha. Reason I am asking for help is because on top of my research I need to interview two insurance professionals about my topic. Thanks for being so helpful.

 

[somarco]

When the State Falls Short, Who Bears the Cost?

The simple answer to your question is, the taxpayers.

Government (at any level) does not produce a product or service that is sold in the open market. All of their revenue comes from taxpayers.

So when a govt comes up short, or goes bankrupt (as some have) the taxpayer ponies up and pays the bills.

 

[wrxrex]

I understand that the taxpayers have to pay, but insurance companies also face more risks. I would like information on how they deal with it. I have found a few useful articles but would like some more info from people.