Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has launched coverage for U.S. businesses when faced with loss related to terrorism and political violence both at home and overseas. Specifically, AGCS provides customizable protection beyond coverage provided …
The private insurance market is not in a position to fill the gap that would be created if Congress fails to renew the federal terrorism risk insurance program, concludes a new report to Congress by the government’s financial regulators. If …
A bipartisan group of U.S. senators has agreed on legislation to extend the government’s financial backstop of terrorism insurance for seven years. The legislation would raise private insurers’ co-payments to 20 percent from 15 percent. “In the long shadow of …
Research by Aon shows that more than 85 percent of insurers will no longer insure terror risk if the federal backstop goes away. The brokerage firm revealed the conclusion based on its “market intelligence” in a written comment to the …
