Congress Puts Us All At Risk

Will it really take another terrorist attack to break the political gridlock in Congress and get a federal terrorism reinsurance backstop in place? Unless the political dynamics change in a hurry, that could very well be the case.

The logjam is in the Senate, where tort reform disputes have tied up a bill to provide quota-share reinsurance. The Senate proposal is very different from the one passed by the House late last year, which establishes a loan program. Since insurers need reinsurance, not loan guarantees, to start writing terrorism coverage again, the House bill wont do the trick, but at least they are poised to negotiate a compromise on a final measure everyone can live with.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.