Terrorism Insurance

News & Analysis as of

Before Adjourning, US Congress Adopts Budget With Dodd-Frank Amendments; Fails To Pass Terrorism Risk Insurance Legislation

Before the 113th Congress adjourned on December 16, Congress adopted the Consolidated and Further Continuing Appropriations Act of 2015, which ensures the federal government operates with budget certainty until September...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

FIO Focus No. 69 - House Passes TRIA Reauthorization Legislation

On December 10, 2014, the House approved a bill to reauthorize the Terrorism Risk Insurance Act (TRIA) for six years. The vote was 417-7. The compromise legislation, worked out between Senator Charles Schumer (D-NY) and...more

Terrorism Risk Insurance: To Be Continued?

In the aftermath of the tragic September 11th terrorist attacks and after suffering steep losses, insurance companies stopped offering terrorism coverage as part of their commercial property policies. In response to this,...more

Washington Insight - July 2014

In This Issue: - Progress Toward Comprehensive Patent Reform Stalls - As Attention Turns to a Border Supplemental, a Twelve Bill Omnibus Seems Certain - Highways, Taxes, and Partisanship: The Next...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - Senate to vote on TRIA reauthorization bill, Federal Reserve Membership - This week, the Senate is expected to consider a bill (S. 2244) that would reauthorize the Terrorism Risk Insurance...more

Capital Thinking: Homeland Security

Legistlative Activity - Reid Files Motion to Proceed on Terrorism Risk Insurance Bill - On July 9, Senate Majority Leader Harry Reid (D-NV) filed a motion to proceed to the Terrorism Risk Insurance Program...more

FIO Focus, Issue No. 56

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

FIO Focus, Issue 55

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

Congress Moves Towards Reauthorization Of TRIA

Congress returned last week from an extended spring recess with few legislative days left on the calendar before the mid-term elections and a long list of must-do legislation. One piece of legislation that seems certain to...more

FIO Focus, Issue No. 50

The President’s Working Group (PWG) on Financial Markets released its report, "The Long-Term Availability and Affordability of Insurance for Terrorism Risk" (Report), on April 17, 2014. The Report was required under the...more

Bipartisan Group of Senators Introduce Measure to Reauthorize and Extend the Terrorism Risk Insurance Program

Yesterday, Sens. Chuck Schumer (D-NY), Mark Kirk (R-IL), Mike Johanns (R-NE), Dean Heller (R-NV), Jack Reed (D-RI), and Chris Murphy (D-CT) introduced a measure to reauthorize and extend the Terrorism Risk Insurance Act...more

TRIA Little Harder, Congress!

Insurance relies on uncertainty most of the time, so we price premiums based on events that the actuaries say are predictable en masse instead of unpredictable on an individual basis. But there is one totally predictable and...more

FIO Focus No. 47 - February 2014: Senate Hearing on the Terrorism Risk Insurance Act (TRIA)

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

FIO Focus - November 2013, Issue 43

On November 19, 2013, the House Financial Services Subcommittee on Oversight and Investigations held a hearing entitled "A General Overview of Disparate Impact Theory." The hearing covered the use of disparate impact...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - Terrorism Risk Insurance Reauthorization Gets Congress’ Attention - Last week the House Financial Services Committee addressed the issue of reauthorization of the Terrorism Risk Insurance...more

Legal Alert: Federal Insurance Issues We Are Watching During Fall 2013

The United States Congress has returned from its summer recess. On its first full day back in session, the U.S. House of Representatives passed (by a vote of 397-6) long-stalled legislation that would fundamentally alter the...more

Jeffrey DeBoer on the intersection of Washington and commercial real estate [Video]

John Corey, Founding Partner of Greentarget, interviews Jeffrey De Boer, President and Chief Executive Officer of The Real Estate Roundtable, on the intersection of Washington and commercial real estate....more

Terrorism Insurance Redux

Terrorism insurance has been boring for the past several years. It risks becoming not boring. In the lee of the terrorism attack of 9/11, the Terrorism Risk Insurance Act, or TRIA, was rapidly passed by the Congress and...more

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