New York’s Financial Services Superintendent Benjamin Lawsky has directed insurers that are licensed to write commercial property or liability business lines in the state to submit information on how they are responding to Congress’ failure so far to reauthorize the …
Connecticut’s deputy insurance commissioner sent a letter to the state’s Congressional delegates last week, asking that the delegation impress upon its leadership in the House and Senate the urgency with which the Terrorism Risk Insurance Act (TRIA) must be reauthorized …
USI Insurance Services has launched a new terrorism insurance product to address the expiring Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which ends Dec. 31. Unlike TRIPRA however, USI’s Terrorism Facility Solution, which is underwritten by Lloyd’s of London, covers …
XL Group’s U.S. Crisis Management business has introduced a new standalone terrorism insurance policy intended to help U.S. businesses address potential gaps in coverage provided by the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA). With TRIPRA reauthorization still in question …
The Insurance Information Institute said this week that the threat of terrorist attack remains real and that the 13-year anniversary of the Sept. 11 terror attack is a reminder of the urgent need for federal lawmakers to reauthorize the terrorism …
Hiscox has increased capacity to $200 million for U.S. domiciled terrorism risks. The additional capacity addresses the increased demand for standalone terrorism coverage caused by the upcoming expiration of the U.S. government terrorism insurance backstop offered by the Terrorism Risk …
The U.S. Senate is close to extending an insurance program Sen. Charles Schumer said is vital to New York’s post-9/11 resurgence and economic development in cities across the country. Schumer, D-N.Y., introduced a bill on April 10 that would extend …
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 …
A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government’s program to help pay terrorism insurance claims after private insurance is exhausted. An industry …
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 …
