November 20, 2019
Legislation to renew the federal terrorism reinsurance program advanced another step today when it was passed by the Senate Banking Committee. The Senate legislation (S.2877) is identical to the bill (H.R. 4634) that passed the House earlier this week by …
November 19, 2019
The House of Representatives on Monday passed a bill reauthorizing the federal terrorism reinsurance program by a vote of 385-22. The vote came on the Terrorism Risk Insurance Program Reauthorization Act of 2019 (H.R. 4634), a bill introduced by Rep. …
January 5, 2015
House Financial Services Committee Chairman Jeb Hensarling (R-Tex.) vowed Monday that the House will vote this week on a bipartisan bill to renew the Terrorism Risk Insurance Act (TRIA) as it did last month before the bill died in the …
April 24, 2014
Ending the federal terrorism risk insurance program could end up costing the federal government more than if the program, TRIA, is allowed to continue, according to a RAND Corp. study. The analysis finds that in a terrorist attack with losses …
April 23, 2014
Massachusetts Division of Insurance’s last data call showed that the vast majority of insurance claims stemming from the Boston marathon bombing tragedy have been resolved. The data also revealed that among the 160 commercial property and business interruption claims made …
April 22, 2014
Demand for terrorism insurance remains strong and the existence of the federal terrorism risk insurance program plays a key role in making coverage available and affordable, according to a report released by insurance broker Marsh. According to Marsh’s 2014 Terrorism …
April 15, 2014
Insurance industry lobbying groups are hopeful that the bipartisan legislation introduced in the Senate on April 10 to reauthorize the Terrorism Risk Insurance Act, or TRIA, will have a better chance for passage than some of the earlier House attempts. …
April 14, 2014
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 …
April 10, 2014
A bipartisan group of U.S. senators has agreed on legislation to extend the government’s financial backstop of terrorism insurance for seven years. The legislation would raise private insurers’ co-payments to 20 percent from 15 percent. “In the long shadow of …
January 30, 2014
A top official from New York State’s Department of Financial Services (DFS) recently spoke about the state’s property/casualty insurance markets, calling it overall very good but “a bit more of a mixed bag” from a granular level. And it’s shaping …