Property-casualty insurance industry trade groups recently voiced general support for legislation continuing government support for insurers in the event of a terrorist attack–a measure the Senate Banking Committee is expected to approve very soon.
Joel Wood, senior vice president for government affairs at the Council of Insurance Agents and Brokers, in a note to CIAB members wrote that “although much uncertainty remains,” a Senate compromise reached last week on the legislation extending the Terrorism Risk Insurance Act for seven years “does significantly move the ball down the field.”
“I believe in the end, the process may be tortured, but the results should be satisfactory to all of us who want to assure that corporate clients have access to available and affordable protection against the financial risks of terrorism,” Mr. Wood added.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
