Government News

XL’s New Standalone Terrorism Policy Addresses TRIPRA Gaps

XL Group’s U.S. Crisis Management business has introduced a new standalone terrorism insurance policy intended to help U.S. businesses address potential gaps in coverage provided by the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA). With TRIPRA reauthorization still in question …

Federal Safety Engineer Defended Trinity’s Highway Guardrails

U.S. highway safety officials defended a widely used guardrail system’s crash-worthiness even as they worried whether its design had been altered in a potentially deadly way, according to internal e-mails. Starting in 2012, a Federal Highway Administration engineer fielded e-mails …

Marijuana Report: Changes in Washington

Editor’s Note: This is the fourth in a series of articles on the the marijuana insurance industry to appear on InsuranceJournal.com. Upcoming stories will include regional reports on how medical marijuana is impacting insurance in states across the nation. Previous …

Montana’s Sen. Tester Awarded Big ‘I’s’ Legislator of the Year 2013

U.S. Sen. Jon Tester (D-Mont.) has been named the Gerald Solomon-IIABA Legislator of the Year for 2013 by the Independent Insurance Agents & Brokers of America (the Big “I”). The award was presented Tuesday during the annual Leadership Luncheon, just …

U.S. Opens Skies to Test Use of Aerial Drones

The U.S. government took a step on Monday toward opening the skies to aerial drones, authorizing six sites where unmanned aircraft can be tested for a variety of uses. The Federal Aviation Administration already had approved limited use of drones …

P/C Industry Supportive But Cautious on Federal Insurance Office Recommendations

Insurers, agents, brokers and state regulators welcome modernization and improvements in the current regulation of insurance, but are not so welcoming of changes that might invite regulation by the federal government. The U.S. Treasury’s Federal Insurance Office (FIO) yesterday released …

Federal Insurance Office Releases Long-Awaited Modernization Report

After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United States. In its report, the FIO …

U.S. Expected to Seek Limits on Car Touchscreens

U.S. traffic safety regulators are expected to propose stronger measures to keep drivers from being distracted by in-car touchscreens. Transportation Secretary Ray LaHood and National Highway Traffic Safety Administration Administrator David Strickland have scheduled a news conference for Tuesday afternoon …

A Future Without the Terrorism Insurance Backstop?

The federal backstop that is widely credited with establishing today’s robust terrorism insurance market may be gone in just 24 months. The consequences could be severe, from reduced availability of coverage to increased premiums. The impact would be particularly acute …

Ullico to Offer Policies through Alterra America

Ullico Inc. has announced that its subsidiary, Ullico Casualty Group, Inc., will begin writing and renewing multiemployer and government fiduciary liability and union liability policies next week with Alterra American Insurance Co.  Proposals and renewals released January 17, 2013 and …