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- Extension of TRIA only a short-term fix.(Congress approval for terrorism insurance)(Editorial)
- RISK MANAGERS AND INSURERS have gained an additional two years of breathing room-but precious little else-from Congress' approval of a measure that would extend a scaled-back version of the federal terrorism insurance backstop through the end of 2007 RISK MANAGERS AND INSURERS have gained an additional...
- Research articles 2005-12-26
- Senator pledges action on backstop.(Senate Committee on Banking, Housing and Urban Affairs regulates terrorism insurance )
- Byline: MARK A. HOFMANN WASHINGTON-The Senate Banking, Housing and Urban Affairs Committee plans to take up federal terrorism insurance legislation "as soon as we can,'' according to the panel's chairman. Committee Chairman Richard Shelby, Byline: MARK A. HOFMANN ...
- Research articles 2005-10-24
- Terrorism law puts Treasury Dept. into the insurance regulation business. (Capitol Insights).(Terrorism Risk Insurance Act)
- Despite what I think is a sincere desire to leave regulation of insurance to the states, it is hard not to notice that the terrorism insurance bill is forcing the Treasury Department to move closer and closer to developing a type of federal oversight Despite what...
- Research articles 2003-03-31
- Terror bill hopes renewed; Senate vote expected on federal backstop proposal.(Terrorism Risk Insurance Act of 2002, US Senate bill-S. 2600)(Brief Article)
- WASHINGTON-Advocates of terrorism insurance legislation are growing increasingly optimistic that the Senate will pass its long-delayed bill this week. In fact, Senate Majority Leader Tom Daschle, D-S.D., filed a cloture motion Friday morning that WASHINGTON-Advocates of terrorism insurance legislation are growing ...
- Research articles 2002-06-17
- Economy will suffer if Congress lets TRIA lapse: Buyer; Terrorism backstop not a 'bailout' but vital to development.(News)(Terrorism Risk Insurance Act)
- Byline: MARK A. HOFMANN WASHINGTON-Allowing the public/private partnership that currently guarantees terrorism insurance to lapse would have severe economic consequences, according to a prominent policyholder representative. "Without terror Byline: MARK A. HOFMANN WASHINGTON-Allowing the public/private partnership that currently...
- Research articles 2006-11-27
- 2005's risk management newsmakers.(Spotlight: Year in Review--Risk Management)
- While many may see the probe by Connecticut Attorney General Richard Blumenthal into insurance industry abuses as a me-too move following the 2004 investigations by New York Attorney General Eliot Spitzer, few will disagree that Mr. Blumenthal held h While many may see the probe by...
- Research articles 2006-01-02
- Industry questions findings of TRIA report; Treasury opposes renewal of program without changes.(News)(ine Lloyd Thompson Group PLC)
- Byline: MARK A. HOFMANN WASHINGTON-The U.S. Congress should move swiftly to deal with the terrorism insurance issue in the wake of the Treasury Department's recommendation that the Terrorism Risk Insurance Act not be extended in its present form, Byline: MARK A. HOFMANN...
- Research articles 2005-07-04
- Call for TRIA extension grows louder in Congress; House panels weigh impact of federal backstop.(News)(Terrorism Risk Insurance Act)
- Byline: MARK A. HOFMANN WASHINGTON-Support may be growing in Congress for extending the Terrorism Risk Insurance Act beyond its current Dec. 31, 2005, sunset date. As was evident in last week's joint meeting of the House Financial Services Comm Byline:...
- Research articles 2004-05-03
- Congress OKs terror backstop; Buyers' attention turns to the insurance market's response.(News)(Terrorism Risk Insurance Act of 2002)
- Byline: MARK A. HOFMANN WASHINGTON-Risk managers and brokers are now waiting to see how the commercial insurance market will react to passage of a long-awaited terrorism insurance bill. Questions about how the legislation will affect insurance c Byline: MARK A. HOFMANN...
- Research articles 2002-11-25
- Terrorism Insurance: Implementation of the Terrorism Risk Insurance Act of 2002
- The terrorist attacks of September 11, 2001, drastically changed the way insurers viewed the risk of terrorism. An industry that had considered the risk of terrorism so low that it did not identify or price terrorism risk separate from property and casualty coverage will pay approximately $40 billion for losses...
- White papers 2004-04-23
- Terrorism Risk Insurance Act of 2002: Terrorism Insurance Program, Treatment Of Terrorist Assets, Federal Reserve Board Provisions
- The ability of businesses and individuals to obtain property and casualty insurance at reasonable and predictable prices, in order to spread the risk of both routine and catastrophic loss, is critical to economic growth, urban development, and the construction and maintenance of public and private housing, as well as to...
- White papers 2003-01-01
- Terrorism Insurance Return
- With policy exclusions voided by law, finance executives face decisions about buying coverage for terrorist acts. The article explains about the Terrorism Risk Insurance Act of 2002 and the changes taken place due to implementation of the Act. The TRIA has brought prices down for companies that purchased stand-alone policies...
- White papers 2003-03-01
- The Fall And Rise Of Terrorism Insurance Coverage Since September 11, 2001
- In the absence of a terrorist attack, it is difficult to gauge TRIA's impact. As Part IV in the article indicates, many issues related to TRIA have yet to be resolved. Over the coming months, the Treasury Department will likely address these issues and attempt to clarify them. Some issues...
- White papers 2003-01-01
- Terrorism Insurance: Effects of the Terrorism Risk Insurance Act of 2002
- Congress had two major objectives in establishing TRIA. The first was to ensure that business activity did not suffer from the lack of insurance by requiring insurers to continue to provide protection from the financial consequences of another terrorist attack. Since TRIA was enacted in November 2002, terrorism insurance generally...
- White papers 2004-05-18
- Terrorism, Insurance and the United States Government
- Fundamentally the current debate over whether or not Terrorism Risk Insurance Act of 2002 TRIA should be extended reduces to a small number of arguments: Is terrorism a fully insurable risk? Is the property-casualty insurance industry set up to be capable of paying losses from large scale terrorist attacks or...
- White papers 2004-09-01
- Terrorism Insurance and the Evolving Terrorist Threat
- How does the Terrorism Risk Insurance Act TRIA align with the evolving terrorism threat? Transnational and domestic terrorism trends reveal that TRIA does not provide adequate financial protection, particularly in the face of economically motivated attacks. It also shows that TRIA has significant gaps and is not robust to an...
- White papers 2005-06-14
- The Terrorism Risk Insurance Act of 2002: Coverage in a Post-9/11 World
- The paper outlines that before September 11, 2001, terrorism coverage was routinely included in commercial insurance policies. Insurance claims from the September 11th attacks were estimated at $40 billion to $50 billion with property insurers covering most of the losses. As a result, primary insurers drastically raised their premiums or...
- White papers 2003-02-06
- Expiring Terrorism Insurance Act Threatens to Leave Businesses Exposed
- The federal government's agreement to back companies that offer terrorism insurance expires at the end of the year, bringing the prospect of sky-high premiums and scarce coverage for local companies in 2006. The Terrorism Risk Insurance Act, or TRIA, was enacted three years ago in the wake of Sept. 11...
- White papers
Additional Resources
- New Interim Guidance Issued By Department Of Treasury On Terrorism Risk Insurance Act
- The articles defines the legislation the Terrorism Risk Insurance Act of 2002. This historic legislation provides a federal backstop for terrorism insurance. The Terrorism Risk Insurance Act provides that under certain circumstances after an insurance company has paid an amount of claims from terrorist events the government. An "act of...
- White papers 2003-02-01
- The U.S. Terrorism Risk Insurance Act
- As a result of the tragic events of September 11, 2001, many insurers were reluctant to or would no longer cover terrorism risk under their policies. The US Congress, in an effort to prevent this widespread dislocation in the insurance market, and to make sure that businesses would have an...
- White papers 2003-01-01
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