Latest Political Risk Headlines
All the headlines from our Political Risk Topic Page, ordered by recency.
Consumer Federation’s Terrorism Insurance Plan Based on ‘Wishful Thinking’
Oct 26 2001 // A proposal to establish a federal terrorism reinsurance program offered by the Consumer Federation of America (CFA) is based on faulty assumptions and wishful thinking, according to the National Association of Independent...
S&P: Maintenance of Ratings Depends on Mitigating Terrorism Risks
Oct 24 2001 // Wholesale withdrawal from terrorism coverage is shielding the U.S. insurance industry from widespread rating actions following the September attacks, but it leaves U.S. commerce highly vulnerable to any future acts of a...
Insurer Seeks Washington State Permission to Exclude Terrorism Acts
Oct 24 2001 // Philadelphia-based Ace USA is seeking permission from the Washington State Insurance Commissioner to exclude acts of terrorism from the policies it issues to businesses. According to a report in The Seattle Times, the...
Property Insurers to Exclude Acts of Terrorism, and to Price Premiums for Larger Maximum Losses Oct
Oct 22 2001 // Property and Casualty insurers, already wary of terrorism before the September 11 attack, are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast...
Federal Government Proposes Plan to Help Cover Future Terrorist Attacks
Oct 22 2001 // The Bush Administration has come up with an alternative to the insurance industry’s proposal for a terrorist risk pool in the event of further attacks. On Oct. 15, the White House proposed a plan that would divide...
Munich Re Calls for Fundamental Reorientation on Terrorist Risks
Oct 19 2001 // Munich Re has just released a preliminary study of the attack on the World Trade Center which contains not only a detailed analysis of what led to the collapse of the twin towers, but also states that “the private...
Federal Government Proposes New Plan to Help Cover Future Terrorist Attacks
Oct 18 2001 // The Bush Administration has come up with an alternative to the insurance industry’s proposal for a terrorist risk pool in the event of further attacks. On Oct. 15, the White House proposed a plan that would divide...
NYSID Warns Insurers to be Vigilant on Terrorist Accounts
Oct 17 2001 // Governor George Pataki and Insurance Commissioner Gregory V. Serio both reminded the insurance community that it is imperative to observe the restrictions contained in the Executive Order of September 24, blocking the...
NAII Suggests Claims Handling Strategies for Damages Connected to Terrorism Attacks
Oct 11 2001 // The National Association of Independent Insurers (NAII) outlined five specific recommendations to help victims and insurers expedite the claims process and streamline the financial recovery from terrorist attacks and other...
Industry, Legislators Ponder Formation of Terrorist Risk Pool
Oct 10 2001 // The idea of creating a federally backed insurance pool to guard against future acts of terrorism is gathering steam on Capitol Hill. The Wall Street Journal reported on Oct. 9 that top-level insurance executives and...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 8 2001 // If the nautical term best applied to the reinsurance industry last year at this time would have been “steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve...
NAII Offers Terrorism Reinsurance Proposal
Oct 5 2001 // The National Association of Independent Insurers (NAII) offered a proposal to address risks related to terrorism and other catastrophic losses in the wake of the World Trade Center disaster. In addition, the Association...
NAIC Reassures Congress in Aftermath of Terrorist Attacks
Oct 2 2001 // National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Kathleen Sebelius told Congress that the American insurance industry is financially able to withstand the pressures created...
The Hartford Extends Premium Payments in Light of Terrorist Attacks
Sep 26 2001 // As part of its ongoing effort to help customers recover from last week’s tragic events, The Hartford Financial Services Group is temporarily extending premium insurance payment periods to customers unable to pay...
NAIC To Hold Summit to Discuss Terrorist Attacks
Sep 26 2001 // The National Association of Insurance Commissioners (NAIC) will hold a summit on Oct. 22-24 to discuss in greater depth the insurance issues related to the recent terrorist attacks. The summit will be held at the Omni...
Fitch Completes Ratings Analysis Following Terrorist Attacks
Sep 26 2001 // Fitch completed the initial phase of its ratings review of insurance and reinsurance companies exposed to losses from the terrorist attacks of Sept. 11 in the United States. Findings have been issued on 16 insurance...
ACE Increases Loss Estimates from Terrorist Attacks
Sep 25 2001 // Bermuda’s ACE Ltd. increased its estimates of anticipated losses from the terrorist attacks in the U.S. from $400 million to $550 million, citing additional reinsurance claims as the principal factor. The...
Navigators Estimates Losses from Terrorist Attack
Sep 25 2001 // The Navigators Group Inc. estimates its after tax net loss from the September 11th terrorist attack on the World Trade Center to be approximately $5 million. The loss comes primarily from business underwritten at the...
International Commentary: A Stunned World Reacts to Terrorist Attacks
Sep 24 2001 // No words will ever be able to fully convey the shock and the stunned incredulity around the world as the Sept. 11th terrorist attacks unfolded on television screens across the globe. Live coverage on French television...
Sept. 11, 2001: Terrorist Attacks Strike America
Sep 24 2001 // Terrorists crashed two hijacked planes into the World Trade Center this morning, causing countless deaths and untold damage as the twin 110-story towers collapsed. The crashes occurred minutes apart just before 9 a.m., and...
