Pool Re, the UK’s terrorism reinsurance pool, announced it will extend its cover to include material damage and direct business interruption caused by acts of terrorism using a cyber trigger. The new cover will be available in April 2018. The …
Britain’s 6 billion pounds ($7.3 billion) terrorism reinsurance fund hopes to extend its cover to include cyber attacks on property, chief executive Julian Enoizi said. Pool Re, set up in 1993, acts as a backstop to insurers paying out claims …
Pool Re announced it has increased its commercial reinsurance cover to £2 billion ($2.5 billion), compared with the £1.95 billion ($2.4 billion) of cover previously in place. The placement further distances the UK Treasury, and thus, ultimately, the UK taxpayer …
Pool Re, the state-backed UK reinsurer that covers terrorism related commercial property losses, announced the launch of the International Forum of Terrorism Risk Re/Insurance Pools (IFTRIP). The formation of IFTRIP is the culmination of a Pool Re led initiative, which …
Pool Re announced it has renewed the reinsurance cover purchased in 2015, for a further three years. The renewed cover, which now includes an additional layer, provides £1.95 billion ($2.8 billion) of commercial reinsurance compared with £1.8 billion ($2.6 billion) …
Standard & Poor’s offered a note of caution about the reauthorization of the federal terrorism reinsurance program, warning that changes made by Congress to boost co-insurance and deductibles could hurt small insurers moving forward. The revised Terrorism Risk Insurance Act, …
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 …
House leaders released a proposed six-year extension of a federal program to insure property against the risk of terrorism, including a Republican proposal to revise a bank regulatory law. The measure will be brought to the the House floor tomorrow, …
Congressional negotiators plan today to release a bipartisan U.S. government spending proposal, just days before current funding ends, after resolving disputes over Republican policy proposals. The House and Senate intend to vote on the legislation this week before leaving Washington …
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. …
