Terrorism Risk Insurance Program Reauthorization Act News

Hiscox Increases U.S. Terrorism Insurance Capacity to $200 Million

Hiscox has increased capacity to $200 million for U.S. domiciled terrorism risks. The additional capacity addresses the increased demand for standalone terrorism coverage caused by the upcoming expiration of the U.S. government terrorism insurance backstop offered by the Terrorism Risk …

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 …

Private Market Will Dry Up If Federal Terrorism Insurance Not Renewed: Aon

Research by Aon shows that more than 85 percent of insurers will no longer insure terror risk if the federal backstop goes away. The brokerage firm revealed the conclusion based on its “market intelligence” in a written comment to the …

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 …

Q&A: Congressional Politics and Prospects for Terrorism Insurance Renewal

The Terrorism Risk Insurance Act, which was initially enacted in 2002, and amended by the Terrorism Risk Insurance Revision and Extension Act of 2005 and the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA) (collectively, including both amendments, TRIA), …