Insurance industry campaigns to renew TRIA

terrorism insurance industry news 9/11 Memorial in 2004

Insurers are calling for the renewal of the Terrorism Risk Insurance Act The insurance industry has mobilized to support U.S. legislation that would renew the federal backstop for terrorism risk insurance. The endeavor has received the support of more than 400 trade groups that represent various types of businesses. The industry is urging federal lawmakers to approve a legislation that could have a major impact on terrorism insurance throughout the country. Insurers note that the terrorist attacks on 9/11 have fundamentally changed the way they manage risks within the U.S.…

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Insurance industry remembers September 11

September 11 insurance industry losses

The terrorist attacks that happened twelve years ago will never be forgotten by individuals or businesses. The horrific and devastating attacks on the United States on September 11, 2001 were far from local events, having caused a ripple felt around the world and that are remembered today, on their anniversary, by everyone from individuals to governments, and to the insurance industry. The terrorist attacks took their toll on our lives, our sense of safety and security, and even on our financial wellbeing. The human impact was, by far, the most…

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How to measure the risk of terror

Post anniversary to September 11, the horrible event occurring over ten years ago now, there has been a tremendous change to the way that border security and terrorism have been viewed in the United States. This is true of the government, businesses, individuals, and the insurance industry, which suffered tremendous losses to its own people when the planes hit the twin towers of the World Trade Center in New York City. Though damages resulting from acts of terrorism had been covered in typical all-risk commercial policies before the attacks, after…

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Post 9/11 insurance industry is vastly different, says report

This weekend marks the tenth anniversary of the September 11 attacks which brought down New York City’s World Trade Center. Since the attack, the political landscape has changed dramatically, a shift that has been mimicked throughout society as terrorism more people became aware of terrorism. Many things changed in the wake of 9/11, and while many of these changes resided within the boundaries of the nation, the entirety of the world’s insurance industry underwent a drastic shift. The Insurance Information Institute (I.I.I) has been studying the changes in the worldwide…

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