Latest Political Risk Headlines
All the headlines from our Political Risk Topic Page, ordered by recency.
Treasury Report Opposes Renewal of Terrorism Risk Insurance Act
Jun 30 2005 // The Treasury Department on June 30 released a long-awaited report on the Terrorism Risk Insurance Act of 2002 that concludes the act should not be renewed by Congress in its current form. The report finds that TRIA has...
Treasury Report on Terrorism Insurance: Exec Summary
Jun 30 2005 // The following is the Introduction and the Executive Summary of the June 30, 2005 report from the Treasury Department on the Terrorism Risk Insurance Act of 2002 including its assessment of the act and recommendations for...
Businesses Hit Treasury Terrorism Insurance Report
Jun 30 2005 // The business lobby, Coalition to Insure Against Terrorism, is blasting as “flawed” and illogical the Treasury Department’s report recommending against renewal of the federal Terrorism Risk Insurance Act...
Leaders Come Together to Discuss Future of Terrorism Insurance June 20
May 30 2005 // Leaders from the public and private sectors from throughout the nation will take part in the National Symposium on the Future of Terrorism Risk Insurance on the campus of the University of Southern California on June 20,...
Senate Port Security Hearing Looks at Attention on Need for Federal Terrorism Insurance Mechanism
May 25 2005 // A Senate Homeland Security Subcommittee hearing set for Thursday, May 26, is the latest in a series of Capitol Hill examinations of port security and the potential economic harm terrorists can cause. These hearings clearly...
Nearly Half of Large, Mid-sized Businesses Purchased Terrorism Insurance in 2004
May 23 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Meanwhile, the cost of property terrorism...
AIA: Ariz. Legislature Passes Important Terrorism Exclusion, Med-Mal Liability
May 18 2005 // During the recently concluded Arizona legislative session, property/casualty insurers successfully lobbied for exclusion from insurance coverage of damage caused by terrorism, and also for medical malpractice liability...
PCI’s Csiszar Accuses Spitzer of ‘Corporate Terrorism’ and of Ignoring Own Conflicts
May 12 2005 // New York Attorney General Eliot Spitzer has bypassed due process and used McCarthy-like tactics to wage “corporate terrorism” against the insurance industry even while ignoring his own alleged conflicts of...
HIGHWAY SAFETY, TERRORISM EXCLUSION HIGHLIGHT IDAHO LEG. SESSION:
May 9 2005 // Idaho’s 2005 legislative session was marked as much by what legislation was passed as by what was not passed, according to the American Insurance Association. “Idaho legislators and Gov. Dirk Kempthorne (R)...
Passage of Highway Safety, Terrorism Exclusion Legislation Highlight 2005 Idaho Legislative Session
Apr 21 2005 // Idaho’s 2005 legislative session was marked as much by what legislation was passed as by what was not passed, according to the American Insurance Association (AIA). “Idaho legislators and Gov. Dirk Kempthorne...
Aon: Businesses Must Not Ignore Terrorism Risk
Apr 19 2005 // Regardless of whether or not the U.S. Federal Government authorizes an extension to TRIA (Terrorism Risk Insurance Act) beyond the end of this year, terrorism remains a very real threat and should not be ignored. According...
Experts Report Commercial Property Terrorism Modeling Getting Better
Apr 18 2005 // Insurance companies are getting a better handle on how to estimate commercial property terrorism exposures and price the coverage thanks to advances in computer modeling. Despite the strides made in modeling to estimate...
European Nations Offer Lessons in Insuring Catastrophes and Terrorism
Apr 18 2005 // GAO Study Explores Examples of How Public-Private Insurance Partnerships Operate A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government...
Insurers Tell Senate Panel of Possible Long-Term Terrorism Insurance Solution; Urge Swift Action
Apr 14 2005 // In testimony today before the Senate Banking Committee, Ernie Csiszar, president and chief executive officer of the Property Casualty Insurers Association of America, outlined possible components of a long-term terrorism...
Zurich Provides Political Risk Insurance for Bolivian Silver and Tin Mining Project
Apr 12 2005 // Zurich’s U.S.-based unit will provide political risk insurance for construction and operation of a modern silver and tin mining operation in Bolivia. The Overseas Private Investment Corporation (OPIC) is co-insuring...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
New GAO Study: U.S. Needs Government Help to Insure for Catastrophes and Terrorism
Mar 31 2005 // A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of...
AIA: House Hearing on Port Safety Offers Rationale for Extension of Federal Terrorism Insurance Backstop
Mar 15 2005 // The American Insurance Association (AIA) expressed hope that a Capitol Hill hearing Tuesday focused on U.S. port security will provide federal policymakers with insights about the urgent need to extend the nation’s...
NCOIL Task Force on Terrorism Backs TRIA’s Reinstatement
Mar 4 2005 // With the Terrorism Risk Insurance Act expiring at the end of this year, the National Conference of Insurance Legislators Task Force on Terrorism agreed during meetings in Hilton Head, S.C. to resurrect a resolution...
In Front of Congress, Greenspan Questions Ability of Private Market Alone to Insure Against Terrorism
Feb 17 2005 // Federal Reserve Chairman Alan Greenspan on Thursday told Members of Congress he has yet to be convinced the private market alone can adequately insure against the continuing threat of terrorism. In an appearance before the...
