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<p>Bot: Creating new article from JSON</p> <p><b>New page</b></p><div>🇫🇷 &#039;&#039;&#039;GAREAT&#039;&#039;&#039; (Gestion de l&#039;Assurance et de la Réassurance des Risques Attentats et Actes de Terrorisme) is the French [[Definition:Terrorism insurance | terrorism reinsurance]] pool established in 2002 to provide the insurance market with a structured mechanism for covering large-scale [[Definition:Terrorism risk | terrorism risk]] on French territory. Created in the aftermath of the September 11, 2001, attacks — which prompted insurers worldwide to reassess their exposure to catastrophic acts of terror — GAREAT operates as a co-[[Definition:Reinsurance | reinsurance]] arrangement among participating French [[Definition:Insurance carrier | insurers]] and [[Definition:Reinsurer | reinsurers]], with an ultimate backstop provided by the Caisse Centrale de Réassurance (CCR), the French state-backed reinsurer.<br /> <br /> 🔄 GAREAT covers property damage and [[Definition:Business interruption insurance | business interruption]] losses arising from terrorism events affecting large commercial and industrial risks above a specified insured value threshold, which has been adjusted periodically since the pool&#039;s inception. Participating insurers cede their terrorism exposure into the pool, which is structured in layers: the lower layers are retained collectively by member insurers, intermediate layers are placed with the international [[Definition:Reinsurance market | reinsurance market]], and the uppermost layer is guaranteed by CCR — effectively extending the French government&#039;s financial backing to extreme scenarios. This tiered architecture distributes terrorism risk across private markets and public resources, ensuring that coverage remains available and affordable for businesses that might otherwise be unable to obtain it. The pool&#039;s governance and layer structure are reviewed regularly to reflect evolving threat assessments and market conditions.<br /> <br /> 🌍 GAREAT occupies an important place in the global landscape of government-supported terrorism insurance programs, standing alongside comparable schemes such as [[Definition:Pool Reinsurance Company Limited (Pool Re) | Pool Re]] in the United Kingdom, the [[Definition:Terrorism Risk Insurance Act (TRIA) | Terrorism Risk Insurance Program]] in the United States, and the Australian Reinsurance Pool Corporation&#039;s terrorism cover. Each of these programs reflects a shared recognition that terrorism risk, with its potential for catastrophic severity and inherent unpredictability, challenges the capacity of private insurance markets alone. GAREAT&#039;s design — blending mutual industry participation, commercial reinsurance, and a sovereign backstop — has proven resilient and has influenced discussions in other jurisdictions about how to structure public-private partnerships for [[Definition:Catastrophe risk | catastrophic risks]] that defy conventional actuarial modeling.<br /> <br /> &#039;&#039;&#039;Related concepts:&#039;&#039;&#039;<br /> {{Div col|colwidth=20em}}<br /> * [[Definition:Terrorism insurance]]<br /> * [[Definition:Pool Reinsurance Company Limited (Pool Re)]]<br /> * [[Definition:Terrorism Risk Insurance Act (TRIA)]]<br /> * [[Definition:Catastrophe risk]]<br /> * [[Definition:Reinsurance pool]]<br /> * [[Definition:Government-backed insurance]]<br /> {{Div col end}}</div>

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