Risk Management

Risk managers look mostly at two areas of terrorism insurance: property and workers' comp, says RIMS' Carolyn Snow.

It is too early to tell what will happen if the Terrorism Risk Insurance Program Reauthorization Act is not renewed, but some industry experts fear workers compensation could be the biggest source of claims in any future attack on U.S. soil.

The International Association of Insurance Supervisors proposes to limit participation of "observers"including insurance industry associations, lawyers, consultants, non-governmental organizations and consumer advocates.

Federal bank regulators are proposing a rule aimed at encouraging flood insurance customers to buy private flood insurance.

Insurance rating agency A.M. Best Co. says 34 rating units failed a stress test to assess capitalization sans the federal terrorism backstop.

The state of Florida plans to file a brief in support of a lawsuit filed by the Mississippi Insurance Department seeking an injunction that would delay flood insurance rate hikes that went into effect Oct. 1.

The government shutdown is over, but for those contractors and other businesses whose operations have slowed or stopped, contingent business interruption insurance coverage may provide some recourse or relief.

An insurance provision in the U.S. farm bills proposed by the House and Senate could have corn, soybean, and wheat farmers making more money in a bad year, such as during a drought, than in a good year, an environmental group said.