RIMS said it issued a comment letter to the Federal Insurance Office in response to legislative dialogue regarding a federal backstop for large-scale catastrophic cyber incidents impacting infrastructure. RIMS indicates that risk professionals would likely support a well-crafted federal cyber …
A research arm of Congress is studying the costs of cyber attacks on the U.S. infrastructure and whether the backup provided by the federal Terrorism Risk Insurance Program (TRIP) is adequate for cyberterrorism events. The General Accountability Office (GAO) said …
The federal terrorism reinsurance program in 2015 has helped maintain certainty and stability for the U.S. market even as the nature of terrorist acts has changed, according to global insurance broker Marsh in its latest report. However must continue to …
In a report that concludes that the federal terrorism risk insurance program “remains an important mechanism” for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury Department also calls for changes including requiring participating insurers to …
