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 …
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 …
Property/casualty insurance industry groups, business associations and observers alike were quick to condemn the death of TRIA renewal for 2014. Without federal terrorism reinsurance in place for 2015, they predicted canceled coverage, market chaos and more unless the measure can …
The U.S. House voted Dec. 10 to extend by six years a federal backstop for insurers offering coverage against terrorism, advancing efforts to retain a program created in response to the attacks of Sept. 11, 2001. House lawmakers passed the …
A U.S. Treasury Department spokesperson last week provided a statement to Boston news outlets that said “The Secretary has not determined that there has been an ‘act of terrorism’ under the Terrorism Risk Insurance Act” for the April 15, 2013, …
U.S. insurance markets, like the rest of the nation, were caught off guard by the Sept.11, 2001 terrorist attacks. Loss of life and property led to an estimated $32.5 billion dollars in insured losses – $43 billion in 2013 dollars …
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 …
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 …
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 …
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 …
