The Bush Administration believes that the federal backup for terrorism reinsurance should be phased out in favor of a private market for terrorism insurance and “strongly opposes efforts to expand the federal government’s role in terrorism reinsurance,” the White House …
Despite promising changes, Congress has shown little enthusiasm for taking the unpopular steps that experts say are necessary to fix the nation’s main flood insurance program. Recent flooding in the Midwest has brought the issue back to the forefront. Hurricanes …
Senator Chris Dodd, D-Conn., chairman of the Senate Committee on Banking, Housing, and Urban Affairs, has asked President Bush to back the Securities and Exchange Commission in its support of plaintiffs in a so-called securities “scheme liability” case. The SEC …
Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted late last month to add wind coverage to the National …
House panel votes to add wind to flood program Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted late …
The chairman of the U.S. House Financial Services committee promised to quickly take up a bill seeking to stabilize the property insurance market in disaster-prone areas. The bill, introduced last week and prepared by Democratic Florida Reps. Ron Klein and …
The House Financial Services Committee voted yesterday to extend and expand the federal terrorism reinsurance law, going against the wishes of the Bush Administration. The panel voted by 49 to 20 in favor of H.R. 2761, the Terrorism Risk Insurance …
Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted yesterday to add wind coverage to the National Flood Insurance …
At a congressional hearing in Washington, D.C. last month, insurance industry group representatives generally spoke in favor of a bill that would extend the federal backstop for terrorism insurance coverage for another 10 years. The Bush administration opposed this extension …
At a congressional hearing in Washington, D.C. last month, insurance industry group representatives generally spoke in favor of a bill that would extend the federal backstop for terrorism insurance coverage for another 10 years. The Bush administration opposed this extension …
