On today’s anniversary of the 9/11 terrorist attack against the United States, the Insurance Institute for Business & Home Safety (IBHS) joined with citizens across the country in remembering those whose lives were lost and the sacrifices that were made. …
The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the issue on Capitol Hill. If Congress agrees to …
An insurance industry association is applauding the New York Assembly for adopting Resolution K611-2013, urging the New York State Congressional delegation to take action as soon as possible to extend the federal Terrorism Risk Insurance Act. Additionally, the New York …
President Barack Obama’s declaration that the Boston Marathon bombings were an act of terrorism could make it difficult for many affected businesses to be reimbursed for losses resulting from the explosions. Federal law enacted after the 9/11 terrorist attacks requires …
The recent bombing at the Boston Marathon serves as a reminder that mass violence remains a critical threat for organizations, say experts at insurance brokerage Marsh, which just issued its latest report on sales of terrorism insurance. Congress is heading …
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 …
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), …
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 …
