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The P&C industry urged the House in the strongest terms Tuesday to significantly amend its version of the TRIA legislation reauthorizing a federal backup for terrorism risk insurance.

The P&C industry urged the House in the strongest terms Tuesday to significantly amend its version of the TRIA legislation reauthorizing a federal backup for terrorism risk insurance.

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.

A divided House Financial Services Committee advanced to the House floor today legislation that sets a path to phase out, after five years, the federal backup for terrorism risk insurance for attacks except for NBCR events. Legislation establishing NARAB was attached to the bill.

A divided House Financial Services Committee advanced to the House floor today legislation that sets a path to phase out, after five years, the federal backup for terrorism risk insurance for attacks except for NBCR events. Legislation establishing NARAB was attached to the bill.

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

An insurance broker recently wrote to PC360 with questions about the Terrorism Risk Insurance Act, concerned that the program essentially benefits a few at the expense of the many. We turn to two industry experts for responses, and add some basic information about the program's structure.

The Republican leadership of the House Financial Services Committee is proposing a substantive reduction in potential government liability for terrorism attacks in order to have terrorism risk insurance transition to the private sector as soon as possible, a Republican lawmaker tells PC360.