Another week, another round of damaging weather across the U.S. But Europe got the record-setting hail this time.

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.