Latest Political Risk Headlines
All the headlines from our Political Risk Topic Page, ordered by recency.
New federal terrorism reinsurance differs from original in key
Jan 1 2006 // Right before going home for the holidays, Congress reconciled different House and Senate versions and approved an extension of the federal terrorism reinsurance program in the form of the Terrorism Risk Insurance Revision...
Rural Ala. County Buys Insurance Against Foreign-Based Terrorism
Dec 29 2005 // A rural south Alabama county has boosted its insurance coverage to cover any attack by a foreign-based terrorist group after a discussion over such an unlikely event. The Clarke County Commission approved the $7,000 annual...
White Paper Analyzes Loss Retention Under Terrorism Extension Act
Dec 29 2005 // AIR Worldwide Corporation conducted an analysis of the potential impact on insurers of the Terrorism Risk Insurance Extension Act of 2005. The Act was signed into law last week and extends the Terrorism Risk Insurance Act...
Insurers Can Use ISO Terrorism Forms Under TRIA Extension
Dec 29 2005 // Insurers can continue to use Insurance Services Office’s portfolio of terrorism insurance endorsements and related rules without any revisions under the Terrorism Risk Insurance Extension Act of 2005, signed into law...
A.M. Best Report: Terrorism – Too Risky Without TRIA
Dec 19 2005 // A.M. Best Co. believes terrorism is too risky without some sort of backstop to protect insurance companies providing coverage on a primary basis. The expiration of the Terrorism Risk Insurance Act (TRIA) of 2002 without...
With Only Few Days Left, Industry Presses on Terrorism Insurance
Dec 14 2005 // Congress has only a few days left to decide the future of one of the legacies of the Sept. 11 attacks, federal backup for terrorism insurance sought by the nation’s builders and investors. The 2002 Terrorism Risk...
Insurer Downgrades Possible Without Terrorism Insurance Renewal
Dec 9 2005 // An article published by Standard Poor’s Ratings Services stated that if Congress fails to renew or extend the Terrorism Risk Insurance Act (TRIA), the commercial lines property/casualty insurance sector will be...
House Floor Vote on Terrorism Insurance Expected Today
Dec 7 2005 // Legislation that would extend the federal terrorism insurance backstop through 2007 is likely to be considered by the full U.S. House of Representatives this afternoon. TRIA, passed a year after the attacks of Sept. 11,...
Heffernan Adds Trade Credit and Political Risk Specialist
Dec 7 2005 // Heffernan Insurance Brokers has announced it has appointed Ernest L. Kangas as trade credit and political risk specialist in its Portland, Ore., office. Kangas has more than 30 years experience in trade credit and...
House of Representatives Passes Terrorism Insurance Bill
Dec 7 2005 // Legislation that will extend the 2002 Terrorism Risk Insurance Act for an additional two years passed on the House of Representatives floor today. The House bill (S. 467) passed by a vote of 371 to 49. The Senate already...
America’s Actuaries: Permanent Government Role in Terrorism Insurance Necessary
Dec 5 2005 // The nation’s actuaries contend that the government must be involved if insurance for the damages caused by a terrorist strike is to be made widely available. The Terrorism Risk Insurance Act subgroup of the American...
House Committee Proposes Two-Year Terrorism Insurance Extension
Nov 21 2005 // The House Financial Service Committee has come up with a proposal to renew the federal terrorism insurance act for two years that some industry groups see as “workable” and “positive.” The bill,...
House Committee Proposes Two-Year Terrorism Insurance Extension
Nov 20 2005 // The House Financial Service Committee has come up with proposal to renew the federal terrorism insurance act for two years that some industry groups see as “workable” and “positive.” The bill,...
Senate Passes Terrorism Insurance Extension
Nov 18 2005 // Moving just days after committees in the House and Senate advanced terrorism insurance bills, the full U.S. Senate today passed its version of the Terrorism Risk Insurance Extension Act of 2005 (S. 467). By a voice vote,...
Senate, House Panels Both Advance Terrorism Insurance Bills
Nov 16 2005 // The Senate Banking Committee and House Financial Services Committee each marked up legislation Wednesday to extend the Terrorism Risk Insurance Act (TRIA) for two years. The Senate Banking Committee reported out S. 467 by...
As House Prepares Terrorism Insurance Bill Today, Coalition Offers Support and Senate Readies Its Own
Nov 16 2005 // Business insurance consumers represented by the multi-industry Coalition to Insure Against Terrorism have expressed their support for federal terrorism insurance legislation that will be marked up by the House Committee on...
Big ‘I’ Throws Backing Behind House Terrorism Insurance Bill
Nov 15 2005 // The Independent Insurance Agents & Brokers of America (the Big “I”) said it strongly supports H.R. 4314, the Terrorism Risk Insurance Revision Act, introduced late Monday by Subcommittee Chairman Richard...
House Committee to Offer 2-Year Terrorism Insurance Extension Next Week
Nov 11 2005 // The House Financial Service Committee has come up with what at least one group is calling a “workable” proposal to renew the federal terrorism insurance act for two years. The bill will be marked up by the...
U.S. RE Takes Lead on Public/Private Facility for Terrorism Reinsurance
Oct 28 2005 // While backers of an extension of the federal terrorism reinsurance program are still hoping that at least a short term fix will be approved before the Terrorism Risk Insurance Act officially expires at year’s end,...
RMS Creates Online Terrorism and Security Risk Manager
Oct 12 2005 // Risk Management Solutions (RMS), Newark, Calif., has announced the launch of a Terrorism and Security Risk Manager online service, a new information source for insurers writing global terrorism risk. The service is...
