Several high-profile natural disasterstornadoes in Oklahoma, flooding in the Southeast and Midwest, and wildfires in Coloradokept catastrophe issues on the radar for many lawmakers this session.
From movement on the TRIA front, to a battle between Endurance Specialty Holdings and Aspen Insurance Holdings over the formers hostile bid for the latter, to a warning from Warren Buffett on the volatility of insuring against hurricanes, the month of June offered up some interesting quotes on key issues.
Sen. Schumer says the House's TRIA bill is a "backwards approach." Industry groups worry about the impact on availability. But most are relieved there is at least progress in renewing the program that expires Dec. 31.
Sen. Schumer says the House's TRIA bill is a "backwards approach." Industry groups worry about the impact on availability. But most are relieved there is at least progress in renewing the program that expires Dec. 31.
From potential adverse impacts on smaller insurers to concern over a "bifurcated" approach to NBCR, industry groups, while pleased with progress on the TRIA front, have reservations about the expected House bill
The FIO has initiated a study of auto-insurance availability and affordability. One comment letter comparing consumer spending on luxuries to spending on insurance drew a sharp response from a major consumer group.
The rubber will hit the road for the insurance industry on reauthorization of the Terrorism Risk Insurance Act Tuesday when the Senate takes up legislation that would reauthorize the program for seven years.