The April 15 Boston bombings could have an impact on the efforts to renew the federal government’s terrorism insurance backstop. Some experts say the Boston Marathon tragedy could help the cause of supporters of the government program by reminding lawmakers …
There are a number of issues involved in determining whether the Boston bombings tragedy would be considered a terrorist act for insurance purposes such as determining the applicability of terrorism exclusions and terrorism coverage. The matter is not clear-cut and …
Insurance markets for sporting events and terrorism coverage could be affected by the Boston Marathon bombings, according to a risk expert offering one of the first estimates of the impact of the terrorist attack. Dr. Gordon Woo, catastrophist at the …
The Terrorism Risk Insurance Act, which was initially enacted in 2002, and amended by the Terrorism Risk Insurance Revision and Extension Act of 2005 and the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA) (collectively, including both amendments, TRIA), …
Bipartisan legislation filed yesterday in the House of Representatives promises to renew the federal terrorism reinsurance program and the debate about whether the backup program is necessary. Introduced by Reps. Michael Grimm, R-N.Y., Carolyn Maloney, D-N.Y., and eight co-sponsors, the …
The federal backstop that is widely credited with establishing today’s robust terrorism insurance market may be gone in just 24 months. The consequences could be severe, from reduced availability of coverage to increased premiums. The impact would be particularly acute …
Catastrophe risk modeling firm AIR Worldwide (AIR) has updated its terrorism model for the United States to reflect less frequent and lower-severity attacks based on a reassessment of the threat by a team of terrorism experts. The model is used …
Risk managers have found things to like, and not like, in President Barack Obama’s budget proposal for the 2012 fiscal year. The Risk and Insurance Management Society (RIMS) expressed its continued opposition to a proposal in Obama’s blueprint that caps …
