Latest Political Risk Headlines
All the headlines from our Political Risk Topic Page, ordered by recency.
WCIRB Releases Summary of Terrorism Loss Cost Estimates for 11 States & D.C.
Jan 22 2003 // The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for eleven states and the District of Columbia that were published by the NCCI based on...
Calif. WCIRB To Study Terrorism Costs
Jan 20 2003 // The Calif. Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee authorized the WCIRB to pursue developing estimates of potential terrorism losses for California. The estimates will be based upon...
AAIS To File Endorsements Excluding Non-Certified Terrorism Losses
Jan 17 2003 // The American Association of Insurance Services (AAIS) is initiating state-by-state filings of commercial lines terrorism endorsements excluding losses arising from “non-certified” acts of...
Calif. WCIRB To Study Terrorism Costs
Jan 17 2003 // The Calif. Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee authorized the WCIRB to pursue developing estimates of potential terrorism losses for California. The estimates will be based upon...
N.Y. Dept. Issues Guidance on Federal Terrorism Bill
Jan 1 2003 // New York Superintendent of Insurance Gregory Serio has issued guidance to the industry on the Federal Terrorism Bill. Circular Letter 25 of 2002 lays out the applicability, guidelines, and compliance procedures for the...
SPIR Meets Increasing Demand for Terrorist Cover
Dec 27 2002 // Special Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), established last March by Germany’s Allianz AG, several other European insurers and Bermuda’s XL Capital, offers property and business interruption...
AAI Pleased with Second Interim Guidance on Terrorism Insurance
Dec 20 2002 // The U.S. Treasury Department’s second set of guidelines to aid insurers in complying with the Federal Terrorism Risk Insurance Act, issued Dec. 18, addresses insurer participation in general, scope of coverage,...
IIAANY Provides Online Terrorism Insurance Kit to Members
Dec 19 2002 // The Independent Insurance Agents Association of New York Inc. (IIAANY) announced it will offer an electronic kit to member agents explaining how the recently passed Terrorism Risk Insurance Act would affect them. Available...
Alliance, NAII Host Meeting on Terrorism Risk Act Implementation
Dec 16 2002 // The success of the newly enacted federal Terrorism Risk Insurance Act hinges on how smoothly the implementation process will be for insurers faced with a number of compliance issues. Enactment of the new legislation...
Carriers Scramble to Comply with Terrorism Risk Insurance Act
Dec 16 2002 // The Terrorism Risk Insurance Act finally became law Nov. 26 after more than a year of pitched congressional wrangling, and many insurers are finding themselves with remarkably little time in which to comply with the new...
Carriers Scramble to Comply with Terrorism Risk Insurance Act
Dec 16 2002 // The Terrorism Risk Insurance Act finally became law Nov. 26 after more than a year of pitched congressional wrangling, and many insurers are finding themselves with remarkably little time in which to comply with the new...
AAI Pleased With Early Action by Treasury, NAIC on Terrorism Insurance
Dec 10 2002 // The Alliance of American Insurers (AAI) says it is pleased with the initial steps taken by the U.S. Department of the Treasury in the implementation of the terrorism insurance legislation signed by the President...
Morris, Manning & Martin Forms Terrorism Insurance Group
Dec 9 2002 // The law firm of Morris, Manning & Martin, LLP, has established a new practice group focusing on terrorism’s impact on the insurance industry. Attorneys in the group will closely monitor and advise clients on the...
ISO Files Policy Forms and Rules for Insurers to Meet Terrorism Coverage
Dec 6 2002 // Insurance Services Office, Inc. (ISO) has filed with all state insurance regulators the commercial insurance policy forms carriers can use to sell terrorism coverage. The new ISO-developed forms contain standardized policy...
NAII Praises Treasury’s Quick Action on Terrorism Guidance
Dec 5 2002 // The Treasury Department has announced interim guidance for the insurance industry in meeting certain requirements under the Terrorism Risk Insurance Act of 2002. Treasury Under Secretary Peter Fisher, joined by Terri...
NAIC Adopts Terrorism Bulletin One Week Prior to San Diego Meeting
Nov 29 2002 // In an interim meeting this week, the National Association of Insurance Commissioners (NAIC) adopted a bulletin that outlines regulators’ expectations regarding filing of rates, policy form language and disclosure...
China Extends Airline Terrorism Coverage
Nov 26 2002 // The Chinese government announced on Monday that it was extending insurance coverage of war and terrorist risks for the country’s airlines for an additional month, until December 24, 2002. The coverage was first made...
Pres. Bush Signs Terrorism Risk Act into Law
Nov 26 2002 // President George W. Bush signed into law, H.R. 3210, the Terrorism Risk Insurance Act of 2002, Tuesday. “Since its introduction, the Terrorism Risk Insurance Act, has gone over a lot of tough hurdles. Had it not been...
CIAT Views Backstop to Increase Availability, Reduce Cost of Terrorism Risk Coverage
Nov 26 2002 // The Coalition to Insure Against Terrorism (CIAT) announced its support with Tuesday’s signing by President George W. Bush of the Terrorism Risk Protection Act of 2002. Spokesperson Martin DePoy, vice president for...
NAII Praising Senate for Including Risk-Sharing Mechanisms in Terrorism Reinsurance Bill
Nov 22 2002 // The Senate’s recent approval of H.R. 3210, the Terrorism Risk Insurance Act of 2002, puts the bill on the desk of President Bush, who is expected to sign the legislation Dec. 2. The new legislation creates a...
