Following recent meetings with policy makers in Washington D.C., Lloyd’s Chairman Sax Riley issued a statement urging U.S. lawmakers to pass the stalled terrorist coverage bill.
“Lloyd’s was one of the first markets to respond to U.S. customers’ demand for specific terrorism coverage following September 11th,” Riley stated. “However, the limited capacity that Lloyd’s and other commercial insurers have available to write this business will not be sufficient in the near-term to satisfy the growing coverage gap in the United States economy.”
Julian James, Lloyd’s Director of Worldwide Markets also commented that, “The government indemnification program before Congress is of crucial benefit to the insurance buyers throughout the United States.”
Topics USA Catastrophe Natural Disasters Excess Surplus Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
Iran Starts Bitcoin-Backed Shipping Insurance for Hormuz Strait 
US P/C Insurers Post Biggest Q1 Underwriting Profit in 25 Years 
NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case 
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’ 
