Latest Political Risk Headlines
All the headlines from our Political Risk Topic Page, ordered by recency.
Policyholders Launch Coalition to Seek Passage of Terrorism Insurance Plan
Feb 14 2002 // A number of leading trade associations and individual companies have joined together to speak for business insurance policyholders as part of a continuing effort to win passage of a terrorism insurance plan on Capitol...
Workers’ Comp Struggling without Terrorism Exclusion
Feb 5 2002 // Insurers feeling the effects of Sept. 11 have taken desperate measures to stay afloat by increasing rates and rewriting policies with little room for loss. Workers’ compensation continues to have a hard time keeping...
NAII Urges Terrorism Exclusions for Personal, Commercial Lines
Jan 30 2002 // The National Association of Independent Insurers (NAII) is urging state insurance regulators to consider personal lines exclusions on a case-by-case basis for insurers that demonstrate the potential for solvency problems...
Without Federal Help, Terrorism Coverage Could be Months or Years Away
Jan 22 2002 // According to the Washington Post, insurance executives told state regulators in Washington, D.C., last week that minus federal help, it could be months or years until they can provide terrorism coverage. They added...
Regulators Should be Deliberate, Flexible When Considering Personal Lines Terrorism Exclusions
Jan 18 2002 // The National Association of Independent Insurers (NAII) has urged insurance regulators to “move with deliberation…on terrorism exclusions for personal lines” and to remain flexible when considering such...
AAIS Files Revised Terrorism Exclusions
Jan 17 2002 // The American Association of Insurance Services (AAIS) has completed a countrywide filing of revised commercial lines endorsements for excluding insurance coverage for losses resulting terrorism. In a related matter, AAIS...
Alliance Urges Calif. and N.Y. to Reconsider Terrorism Exclusions
Jan 14 2002 // Rodger S. Lawson, Ph.D., president of the Alliance of American Insurers, released the following statement questioning the logic of the decision by the California and New York insurance departments to deny the ISO...
Without Terrorism Exclusions, Surplus Lines Insurers Hold Out Lifeline to Calif., N.Y. Businesses
Jan 14 2002 // AccordingSurplus lines insurers may offer hope for businesses to remain insured in those states, like California and New York, that are refusing to allow insurers to exclude terrorism risks in commercial insurance...
Senate Fails to Act on Federal Terrorism Reinsurance
Jan 14 2002 // During the first weeks of December, covering the story of whether or not Congress would pass a federal terrorism reinsurance bill before the year 2001 was out was pretty much a waiting game. At the time, most insurance...
Senate Fails to Act on Federal Terrorism Reinsurance Bill
Jan 14 2002 // During the first weeks of December, covering the story of whether or not Congress would pass a federal terrorism reinsurance bill before the end of 2001 was pretty much a waiting game. At the time, most insurance industry...
AIG Global Trade and Political Risk Insurance Introduces Coverage for Middle Market Companies
Jan 11 2002 // AIG Global Trade and Political Risk Insurance Company, a member company of American International Group Inc. (AIG) has introduced a new political risk insurance coverage for small and mid-sized companies. AIG...
NAII Claims CDI Unreasonably Forces Insurers to Provide Terrorism Coverage
Jan 10 2002 // California State insurance regulators announced that insurance companies must offer terrorism coverage even though Congress has failed to provide an essential backstop for insurers in the event of future terrorism...
NY Rejects Broad Terrorist Exclusions
Jan 9 2002 // New York State Insurance Department Superintendent Gregory V. Serio has reportedly rejected requests from the insurance community and the NAIC to permit the endorsement of broad “terrorist exclusion” provisions...
RIMS Urges Congress to Readdress Need for Terrorism Reinsurance
Dec 28 2001 // With the Senate not addressing the issue of federal terrorism reinsurance legislation before the end of the year, The Risk and Insurance Management Society Inc. (RIMS) expressed its disappointment. The Jan. 1 renewal date...
Council of Insurance Agents + Brokers Responds to Failure of Federal Terrorism Reinsurance Legislati
Dec 24 2001 // In response to no Congressional action being taken on federal terrorism reinsurance legislation died in 2001, Ken Crerar, president of The Council of Insurance Agents + Brokers, stated that the move was a disappointment to...
Insurers Lament Senate Inaction on Crucial Federal Terrorism Insurance Legislation
Dec 21 2001 // The push to enact federal terrorism insurance before the end of the year failed on Dec. 20 after promising Senate legislation was held hostage because some provisions ran contrary to the trial lawyer’s agenda,...
ABA Sets Up Task Force on Insurance and Terrorism Claims
Dec 21 2001 // The American Bar Association announced the creation of a Task Force on Insurance and Terrorism Claims to address insurance issues arising out of the terrorists attacks on the World Trade Center and the Pentagon. The...
NAMIC Creates ‘Terrorism Re’ Channel
Dec 19 2001 // Responding to the need by National Association of Mutual Insurance Companies (NAMIC) members and the industry for late breaking information regarding the terrorism debate on Capital Hill, and because NAMIC believes that it...
NAMIC Calls for One Definition of Terrorism
Dec 17 2001 // The National Association of Mutual Insurance Companies (NAMIC) commented on a draft definition of terrorism released recently by an Ad Hoc Committee on Legal Issues of the National Association of Insurance Commissioners...
RIMS Tells NY Assembly to Support Adoption of Federal Terrorism Law
Dec 14 2001 // The Risk and Insurance Management Society urged the members of the New York State Assembly Insurance Committee not to permit terrorist exclusions at the state level, but to work with insurance industry leaders to assure...
