terrorism

Feds Are Eyeing Captives Tapping Terrorism Backstop, Again Members Public

The U.S. government is continuing to question the use of captives to tap the taxpayer-backed program.

Chris Westfall
insurance

Australia Building Blast Models for Terrorism Reinsurance Program Members Public

The government-backed reinsurer has hired Risk Frontiers and Finity to assist.

Chris Westfall
Catastrophe Models

Small Insurers Shunning Terrorism Reinsurance Members Public

Double digit increases in reinsurance premiums may be causing a “gap” in terrorism cover for small insurers.

Chris Westfall
insurance

States, Feds Combine Terrorism Insurance Data Efforts as “Concerning” Trends Revealed Members Public

The U.S. Department of Treasury is moving ahead with plans to combine the collection of data related to terrorism insurance that had long been split between the federal government and the states into a single effort overseen by Treasury’s Federal Insurance Office (FIO). The move comes at a

Chris Westfall
insurance

All Terrorism Insurance Alternatives Have Challenges: GAO Members Public

Any alternative funding structure to the Terrorism Risk Insurance Act (TRIA) would create a significant challenge for insurance, reinsurance and government leaders in finding an acceptable alternative, according to a report released last week by the U.S. Government Accountability Office (GAO). Specifically, the GAO said that the two leading

Chris Westfall
insurance

Captives, Reinsurers Push Back on TRIA Data Proposal Members Public

Captive and reinsurance industry representatives are pushing back on proposed changes to the Terrorism Risk Insurance Act (TRIA) over a myriad new data collection requirements that could force the industry to scramble to comply in just over a month’s time. Industry representative are also warning regulators to address “loopholes”

Chris Westfall
insurance

Insurers, Reinsurers Differ on Government Terrorism Timing Members Public

The U.S. government should make a determination whether a loss event is an “act of terrorism” in either days or months, depending which sector of the insurance and reinsurance industry you ask. In comment letters collected to the U.S. Department of Treasury’s Federal Insurance Office (FIO) in

Chris Westfall
insurance

Focus Shifts to Timing of U.S. Terrorism Insurance Call Members Public

When the government declares an event “an act of terrorism” is just as important as how it reaches that conclusion, according to new documents focused on implementation of recently passed terrorism insurance legislation. The U.S. Treasury Department released a public comment notice last week as part the requirements of

Chris Westfall
insurance