Insurance industry wins a victory with the renewal of the Terrorism Risk Insurance Act

Insurance industry news Lawsuit

House and Senate vote to renew the Terrorism Risk Insurance Act Both the U.S. House of Representatives and Senate have approved the renewal of the Terrorism Risk Insurance Act. The legislation’s renewal was a fast-tracked through the House, making its way to the Senate, where it received majority support. The legislation is now awaiting President Barack Obama’s signature, which is expected to be given within the coming days. The President’s signature will enact the legislation, reinstituting the federal backstop that the insurance industry has been relying on. Insurers will again…

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Crop insurance may look notably different following next farm bill

Crop Insurance

Risk management may play an important role in its shape and angle. As the cost of crop insurance continues to skyrocket and takes steps away from paying growers directly and toward measures for risk management, Ohio State University agricultural economists are now predicting that the new focus will play an important role in the shape of the next Farm Bill. The agricultural economists shared their opinions at the 50th Farm Science Review in Ohio. Among those included on the panel at the review featured Carl Zulauf, who is an expert…

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