Terrorism Risk Insurance Act News

N.Y. Sen.: TRIA Renewal Vital for Economic Development in Cities Across Country

The U.S. Senate is close to extending an insurance program Sen. Charles Schumer said is vital to New York’s post-9/11 resurgence and economic development in cities across the country. Schumer, D-N.Y., introduced a bill on April 10 that would extend …

California Coalition Urges Legislature to Call for TRIA Extension

A coalition of tourism entities, commercial property owners and insurers are calling on state legislators to support a resolution urging Congress to extend the Terrorism Risk Insurance Act. AJR 34, authored by Assemblyman Ken Cooley, D-Rancho Cordova, will be heard …

P/C Insurance Executives Expect Flood Insurance Delay, TRIA Renewal, Industry Consolidation

A survey conducted at the Insurance Information Institute’s Property/Casualty Insurance Joint Industry Forum in New York Tuesday asked industry leaders for their outlook on 12 topics — ranging from the Terrorism Risk Insurance Act and the Biggert-Waters Flood Insurance Reform …

Mass. Regulator Offers Update on Industry Developments, Boston Bombing Claims

Massachusetts’ top insurance regulator recently spoke about the state of the insurance industry in Massachusetts, with topics ranging from the auto insurance marketplace and the Biggert-Waters Flood Insurance Reform Act to Boston bombing insurance claims. Speaking at the Massachusetts Association …

On 9/11 Anniversary, a Call to Renew Federal Terrorism Insurance

On today’s anniversary of the 9/11 terrorist attack against the United States, the Insurance Institute for Business & Home Safety (IBHS) joined with citizens across the country in remembering those whose lives were lost and the sacrifices that were made. …

Industry Told TRIA Won’t Be Renewed Until 2014

The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the issue on Capitol Hill. If Congress agrees to …

Group Applauds New York Assembly for Resolution Urging TRIA Extension

An insurance industry association is applauding the New York Assembly for adopting Resolution K611-2013, urging the New York State Congressional delegation to take action as soon as possible to extend the federal Terrorism Risk Insurance Act. Additionally, the New York …

Business Frets at Terrorism Tag of Marathon Attack

President Barack Obama’s declaration that the Boston Marathon bombings were an act of terrorism could make it difficult for many affected businesses to be reimbursed for losses resulting from the explosions. Federal law enacted after the 9/11 terrorist attacks requires …

Demand, Rates for Terrorism Insurance Coverage Remain Steady: Marsh

The recent bombing at the Boston Marathon serves as a reminder that mass violence remains a critical threat for organizations, say experts at insurance brokerage Marsh, which just issued its latest report on sales of terrorism insurance. Congress is heading …

Experts Weigh Boston Bombings’ Impact on Government-Backed Terrorism Insurance

The April 15 Boston bombings could have an impact on the efforts to renew the federal government’s terrorism insurance backstop. Some experts say the Boston Marathon tragedy could help the cause of supporters of the government program by reminding lawmakers …