201909.19
0

Extend the Terrorism Risk Insurance Program (TRIA)

In the wake of 9/11, insurers and their reinsurers began to exclude terrorism coverage from commercial policies because they could not adequately forecast loss exposure. Commercial lenders, however, required terrorism coverage and the result was an economic paralysis felt particularly in construction and development, leading to a job loss of approximately 300,000 according the White…

201909.18
0

CIAT Signs Letter Urging Long-Term Reauthorization of TRIA

The Coalition to Insure Against Terrorism (CIAT), which represents businesses and organizations throughout the transportation, real estate, manufacturing, construction, entertainment, education, and retail sectors, and 300 other organizations have signed a letter from the U.S. Chamber of Commerce urging members of Congress to reauthorize TRIA (the Terrorism Risk Insurance Act):    The following statement may…

201909.17
0

Disney, NASCAR Warn Hill Against Terror Insurance Meddling

POLITICO’s Zachary Warmbrodt: “More than 340 companies and trade groups today will discourage Congress from tinkering too much with the federal terrorism insurance backstop that lawmakers enacted after the Sept. 11, 2001 attacks. The Walt Disney Company, NASCAR, Marriott International, the U.S. Chamber of Commerce and a slue of insurers are among the organizations that…

201905.24
0

2019 Terrorism Risk Insurance Report

Marsh and McLennan Companies recently released their 2019 Terrorism Risk Insurance Report. Terrorism remains a dynamic global risk and a serious threat for people and organizations. The evolution of terrorism risk exposes many countries to complex threats from both international and home-grown groups, as well as individuals acting on their own, known as “lone wolves.”…

201808.09
0

2018 Terrorism Risk Insurance Program Report

Under the Terrorism Risk Insurance Program Reauthorization Act of 2015, the Secretary of the Treasury is required to submit a report regarding the Terrorism Risk Insurance Program to the Committee on Financial Services of the House of Representatives, and the Committee on Banking, Housing, and Urban Affairs of the Senate. The 2015 Reauthorization Act also…