With insurance industry support, the New York City Council Committee on State and Federal Legislation on June 17 proposed a resolution supporting the extension of the Terrorism Risk Insurance Act.
The odds are in favor of renewal for the Terrorism Risk Insurance Act, but do not expect expansion of the program says William R. Berkley, chairman and CEO of W.R. Berkley Crop.
A caustic exchange between a key congressional staffer and an industry lobbyist indicates the insurance industrys deep concerns about prompt congressional action to renew TRIA are not misplaced.
The bombing at the Boston Marathonthe first successful, high-profile terrorist attack in the U.S. since 9/11could impact the terrorism insurance marketplace, specifically event cancellation coverage.
The bombing at the Boston Marathonthe first successful, high-profile terrorist attack in the U.S. since 9/11could impact the terrorism insurance marketplace, specifically event cancellation coverage.
Winter storms that delivered major snowfalls across the U.S. fueled P&C insurers cat-loss concerns in Februarybut the resulting level of claims proved to be modest, says Aon Benfield in its latest Global Catastrophe Recap.