terrorism insurance News

XL Catlin Expands Crisis Management Product Suite in UK, Asia Pacific, Germany

XL Catlin has introduced “Active Assailant” coverage to its crisis management product suite to respond to the threat of physical attack faced by businesses and public service providers. “Active Assailant coverage will initially be underwritten in the U.K., U.S., Germany …

Ironshore Bolsters War & Terrorism Offering in Asia Pacific with Hill Appointment

Ironshore International announces that James W. Hill has been named underwriting manager of Terrorism, Political Violence and War for the Asia Pacific region. Hill, who joins Ironshore from Willis Ltd., will be based in Ironshore’s Singapore office, reporting to Hui …

U.S. Treasury Seeks Terrorism Data from Insurers

The U.S. Department of the Treasury’s Federal Insurance Office (FIO) is requesting that insurers voluntarily submit insurance data regarding their participation in the Terrorism Risk Insurance Program (TRIP). The Terrorism Risk Insurance Program Reauthorization Act of 2015 requires the Treasury …

State-Backed Terrorism Reinsurance Fund Likely to Aid Paris Firms in Recovery

Parisian businesses struggling after the Nov. 13 attacks are likely to be able to make successful insurance claims, helped by a state-backed fund set up in the wake of the Sept. 11 2001 attacks in New York. The carnage in …

Why Now Is Time to Privatize Flood Insurance: a Candid Conversation with Hiscox USA CEO Walter

The private insurance industry is ready and anxious to take on flood risk, and politicians should reform the federal program now to take advantage of this interest, according to the U.S. executive of a leading specialty insurer. “I think there …

How AIG Is Using Cyber Intelligence to Protect Property from Cyber Attacks

A three-hour shutdown of the New York Stock Exchange on the same day that a network failure halted all United Airlines flights in the U.S. had people across the country thinking one thing: cyber-attack. It wasn’t, but the July 8 …

Connecticut Gov. Malloy Lauds Congressional Passage of TRIA

Connecticut Governor Dannel P. Malloy issued a statement praising the Congressional approval for a six-year extension of the federal government’s Terrorism Risk Insurance Act (TRIA). “This reauthorization was essential and restores much-needed certainty to the insurance industry here in the …

New York Regulator Surveying Insurers on TRIA Risk

New York’s Financial Services Superintendent Benjamin Lawsky has directed insurers that are licensed to write commercial property or liability business lines in the state to submit information on how they are responding to Congress’ failure so far to reauthorize the …

Conn. Regulator: TRIA Renewal Must Be a Top Priority for New Congress

Connecticut’s deputy insurance commissioner sent a letter to the state’s Congressional delegates last week, asking that the delegation impress upon its leadership in the House and Senate the urgency with which the Terrorism Risk Insurance Act (TRIA) must be reauthorized …

Businesses Push for Terrorism Insurance Vote When Congress Returns

Lobbyists for insurers, real estate financiers and businesses launched into action last week to urge quick renewal of a terrorism insurance program in 2015 after U.S. lawmakers left it to expire at the end of this year. Industry officials said …