Latest Political Risk Headlines
All the headlines from our Political Risk Topic Page, ordered by recency.
Declining rates fuel stand-alone terrorism market
Apr 17 2006 // With the exception of a few notorious hotspots, rates for stand-alone terrorism insurance have dropped by 40 to 50 percent since 2002, according to Aon’s Crisis Management division. The reductions have been driven by...
Declining Rates, Increasing Demand Fuel Stand-Alone Terrorism Market
Apr 6 2006 // With the exception of a few notorious hotspots, overall rates for stand-alone terrorism insurance have dropped by 40-50 percent since 2002, according to an update on the market by Aon’s Crisis Management Division....
Totally ready or just terrorism ready?
Apr 3 2006 // Is the nation’s terrorism-centric focus hurting its efforts to plan for other disasters? Dr. James L. Valverde Jr., director of economics and risk management for the Insurance Information Institute, posed that...
Actuaries Estimate Cost of Terrorist Attacks on Cities; N.Y. at $778 Billion; D.C. at $196.8 Billion
Mar 31 2006 // The American Academy of Actuaries disclosed that a future large terrorist attack in New York City could result in $778 billion in insured losses. Speaking at the National Association of Insurance Commissioners public...
Liberty Mutual CEO Advocates Long-Term Terrorism Insurance Plan
Mar 31 2006 // Declaring the Terrorism Risk Insurance Act (TRIA) “an essential policyholder protection,” Edmund F. (Ted) Kelly, Liberty Mutual Group chairman, president and CEO, this week urged the National Association of...
Agents Call for Long-Term Terrorism Insurance Solution
Mar 29 2006 // The nation’s largest insurance association called today for the creation of an effective, long-term mechanism to manage the unique risk posed by terrorist attacks. Independent insurance agent Sharon Emek, Ph.D., CIC,...
New Lloyd’s Policy Wording Covers Terrorist ‘Piracy’
Mar 20 2006 // As the oldest marine insurer in the world, Lloyd’s has long been aware of the menace pirates pose to shipping. These days, however, they aren’t the “Yo, ho, ho and a bottle of rum” kind of pirates,...
Terrorism Insurance: Pricing Steady, But Long Term Solution Needed, Says Expert
Feb 16 2006 // Pricing to cover terrorism risks is unlikely to change in the short term following renewal of the federal reinsurance program, however that could change quickly if there is another terrorist event, according to a n...
Government estimates its cost under terrorism insurance extension
Feb 6 2006 // The Congressional Budget Office is projecting a government cost of $1.5 billion through the next 10 years under the legislation extending the Terrorism Risk Insurance Act of 2005 (S. 467). However, despite weighing...
TREASURY CLARIFIES LIABILITY UNDER TERRORISM REINSURANCE
Feb 6 2006 // Insurers writing monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. Officials of the U.S....
Government estimates its cost under terrorism insurance extension
Feb 5 2006 // The Congressional Budget Office is projecting a government cost of $1.5 billion through the next 10 years under the legislation extending the Terrorism Risk Insurance Act of 2005 (S. 467). However, despite weighing...
Treasury clarifies liability under terrorism reinsurance
Feb 5 2006 // Insurers writing monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. Officials of the U.S....
Agents Group to Support Terrorism Backstop Study
Jan 25 2006 // The Independent Insurance Agents & Brokers of America is throwing its support behind a study of the need for long-term federal terrorism insurance. The association backs a bipartisan bill introduced in the House of...
Americans More Fearful of Car Crashes, Terrorist Hits than Avian Flu
Jan 25 2006 // A new national survey of 1,000 Americans revealed that Americans are more fearful of car accidents, natural disasters and terrorist attacks than they are of the Avian Bird flu. The national survey was conducted by HCD...
11 Defendants Indicted on Domestic Terrorism Charges; Blamed for Arsons
Jan 20 2006 // Eleven defendants have been indicted on charges including arson and destruction of an energy facility for allegedly participating in a campaign of domestic terrorism in five western states on behalf of the extremist Earth...
Treasury Clarifies Farm, Liability, Umbrella Issues Under Terrorism Reinsurance Program
Jan 18 2006 // Insurers that write monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. During a conference...
Ala. County Commissioners Threatened, Reverse Vote to Buy Terrorist Insurance
Jan 12 2006 // Two weeks after voting to spend $7,000 a year for terrorism insurance, commissioners in a rural Alabama county have responded to a more immediate threat: angry voters. The Clarke County Commission has voted unanimously to...
U.K. Experts Warn of Continuing, Evolving Global Terrorist Threats
Jan 5 2006 // A leading U.K. intelligence expert and a specialist in terrorist underwriting at Hiscox Plc have warned that the threat of terrorism will not diminish in the year ahead with the continued potential for attacks around the...
Treasury Issues Guidance on 2005 Terrorism Insurance
Jan 4 2006 // The Treasury Department issued interim guidance to assist the insurance industry in meeting new requirements for the Terrorism Risk Insurance Program. On December 22, 2005, President Bush signed into law the Terrorism Risk...
AAIS Says Policy Forms OK for Use Under Terrorism Extension
Jan 3 2006 // Insurers including those writing farm and crime coverages that use programs developed by the American Association of Insurance Services will require no immediate changes to existing endorsements and other materials to...
