Terrorism Insurance

News & Analysis as of

The New Terrorism Risk Insurance: Still a Cost of Doing Business

TRIA is back. - On November 26, 2002, in the wake of the September 11th attacks, President Bush signed the Terrorism Risk Insurance Act of 2002 (TRIA), and with it, breathed life into a new player in the catastrophic...more

Interim TRIA Guidance Issued By Department Of Treasury

As previously reported, the Terrorism Risk Insurance Act (“TRIA” or the “Program”) was re-authorized and signed into law on January 12, 2015 (the “Reauthorization Act”). On February 4, 2015, the Department of Treasury...more

Alert: Insurance Contracts and Terrorism – the Effect of the UK Counter Terrorism and Security Act 2015

The Counter Terrorism and Security Act 2015 ("CTSA 2015") received the Royal Assent on 12 February 2015, having started in the House of Commons on 26 November 2014. ...more

Insurance Topics We Will Be Watching in 2015

With the first month of the year behind us, this report outlines major insurance topics that we will be watching throughout 2015. Forces, trends and events that we believe will affect regulation, transactions and...more

Are Cyber War & Cyber Terrorism Insurable?

The frequency of cyber war and terrorism is no longer the risk. The magnitude of the potential damages is the real threat. It’s conceivable that an enemy of the U.S. government could hack a U.S. energy, water, or fuel...more

A Boost for Business: Time to Reaffirm or Secure Terrorism Insurance

On January 12, 2015, President Obama signed into law H.R. 26, the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA of 2015), providing a federal backstop for insurance against risks of terrorism. TRIPRA...more

Terrorism Risk Insurance Act of 2002 Extended as First Legislation of 2015; 114th Congress

Earlier this month, President Barack Obama signed important legislation extending the Terrorism Risk Insurance Act of 2002 (“TRIA”), which lapsed December 31, 2014, through December 31, 2020. During the lapse, policyholders...more

Terrorism Risk Insurance Program Reauthorized

On January 12, 2015, the Terrorism Risk Insurance Act Program (“TRIA” or “Program”), which was originally adopted in 2002 to provide a federal backstop to protect insurers from catastrophic claims arising from terrorist...more

Corporate and Financial Weekly Digest - Volume X, Issue 2

In this issue: - New Law Aligns Clearing and Margin Exceptions for Swaps - CFTC Staff Extends No-Action Relief to Certain Reporting Counterparties Masking Identifying Information Pursuant to Non-US Law -...more

Obama Signs Bill Extending Federal Terrorism Reinsurance Program

Born out of the September 11, 2001 terrorist attacks, on November 26, 2002, President George W. Bush signed into law the Terrorism Risk Insurance Act (“TRIA”). Originally set to expire on December 31, 2005, Congress twice...more

Terrorism Risk Insurance Program Reauthorized, But Some Uncertainty Remains

On Monday, President Barack Obama signed into law a six-year extension of the Terrorism Risk Insurance Program after the House and Senate passed the bill by votes of 416-5 and 93-4, respectively. As we previously reported,...more

Terrorism Insurance: Steps for Policyholders After TRIA’s Reauthorization

Reacting quickly to the concerns of the business community and insurance policyholders, the 114th Congress voted overwhelmingly to approve the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIA). On January...more

Congress Exempts Non-Financial End-Users, Their Agents and Certain Cooperatives From Non-Cleared Swap Margin Requirements in...

On January 8, 2015, the U.S. Senate approved legislation, by a 93-4 vote, to reauthorize the Terrorism Risk Insurance Act (“TRIA”). The legislation, dubbed the Terrorism Risk Insurance Program Reauthorization Act of 2015 (the...more

TRIA is Renewed, Finally…

In the wake of the tragic September 11th attacks, virtually all commercial reinsurance contracts that renewed by July 2002 included absolute terrorism exclusions. As a result, domestic direct insurers passed these exclusions...more

Policyholders Face Uncertainty after Lapse of Terrorism Risk Insurance Program

Congress' failure to renew the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), a 2007 extension of the 2002 Terrorism Risk Insurance Act, could have significant implications for companies that rely upon...more

Policyholders Face Uncertainty after Lapse of Terrorism Risk Insurance Program

Congress’ failure to renew the Terrorism Risk Insurance Program Reauthorization Act (“TRIPRA”), a 2007 extension of the 2002 Terrorism Risk Insurance Act, could have significant implications for companies that rely upon...more

North Korea’s Attack Raises Critical Coverage Issues and TRIA Implications

Potential Critical Coverage Issues - The FBI advised that the recent attack on Sony Pictures Entertainment (SPE) “destroyed systems” and “rendered thousands of SPE’s computers inoperable, forced SPE to take its entire...more

Need Terrorism Coverage? Take Action Before January 1, 2015

The U.S. Congress failed to reauthorize the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) prior to adjourning on December 16, 2014. The new 114th Congress will not convene until January 6, 2015 and may not...more

TRIA Extension Fails: An Initial Guide to Next Steps

To the surprise of many, Congress failed to extend the Terrorism Risk Insurance Act of 2002 ("TRIA"), which is set to expire at the end of this year. Many hope that TRIA in some form will be re-authorized early in 2015 and,...more

U.S. Congress Fails to Renew TRIA – for Now

The U.S. Senate wrapped up the 113th Congress and left Washington without holding a vote to renew the Terrorism Risk Insurance Act (TRIA). In the closing weeks of the session, Senator Chuck Schumer (D-N.Y.) had negotiated an...more

Terrorism Risk Insurance Act Set to Expire at Year End

The Terrorism Risk Insurance Act (TRIA) now appears set to expire as of December 31, 2014, barring further action from Congress.  The Terrorism Risk Insurance Program Reauthorization Act of 2014[1] would have extended the...more

Congress’ Failure to Extend Terrorism Risk Insurance Act Requires Policyholders to Act Diligently Before January 1

With the recent uptick in terrorist activity omnipresent in the news, the need for financial protection against the effects of terrorism is plainly evident. Nevertheless, Congress has now adjourned for the year without making...more

Our Dysfunctional Congress Skedaddles, Leaving TRIA to Die

Last Friday we reported that the House of Representatives had finally passed a bill reauthorizing the Terrorism Risk Insurance Act (TRIA) and sent it to the Senate. The post included a picture of a cartoon bomb with a lit...more

The Terrorism Risk Insurance Act (TRIA) Set to Expire Year End

The Terrorism Risk Insurance Program Reauthorization Act of 2014 (the “Bill”), which would extend the existing terrorism insurance coverage under TRIA, appears that it will now expire as of December 31, 2014 barring further...more

Senate Fails to Pass TRIA Extension Legislation; TRIA Will Expire on December 31st

Last night, the objections of one member, Senator Tom Coburn, (R-OK), prevented the Senate from passing S. 2244, a bill already passed by the House of Representatives, that would have extended the Terrorism Risk Insurance Act...more

39 Results
|
View per page
Page: of 2

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×