Business groups are throwing their support behind a pandemic insurance bill modeled after a post-9/11 law that created a federal backstop for claims related to acts of terrorism. The Pandemic Risk Insurance Act, much like the 2002 Terrorism Risk Insurance Act (TRIA), would provide compensation for losses resulting from pandemics or public health emergencies. But… Continue reading Business Groups Back Pandemic Insurance Bill Modeled on Post-9/11 Law
Tag: TRIA
Congress Approves Seven-Year TRIA Extension
The Senate on Thursday gave its final approval to a 2020 spending bill that includes a provision to reauthorize the Terrorism Risk Insurance Act for seven years. The Senate voted 71-23 to concur in House amendments that were made on top of changes the Senate made earlier to HR 1865. The House signed off on… Continue reading Congress Approves Seven-Year TRIA Extension
Spending Bill Includes Repeal of ObamaCare Taxes, Flood & Terrorism Extensions
Congress is planning to use a $1.4 trillion package of two must-pass spending bills to repeal Obamacare taxes, raise the age for tobacco purchases to 21 and extend the U.S. Export-Import Bank for seven years, according to legislation released Monday. The negotiations continued up until the last minute on the bills, which needs to pass… Continue reading Spending Bill Includes Repeal of ObamaCare Taxes, Flood & Terrorism Extensions
House Passes Bill to Reauthorize Terrorism Risk Insurance Program
The U.S. House of Representatives passed the Terrorism Risk Insurance Program Reauthorization Act of 2019, a bill that will reauthorize the Terrorism Risk Insurance Act for seven years. The bill, H.R. 4634, passed in a House vote of 385-22. It was previously passed unanimously in the House Financial Services Committee, where Rep. Maxine Waters, D-Calif.,… Continue reading House Passes Bill to Reauthorize Terrorism Risk Insurance Program
Chubb Launches Terrorism Risk Evaluation Services for Multinational Businesses
Chubb has launched a new service for multinational companies and large middle market businesses which combines its Terrorism & Political Violence (PV) underwriting, Risk Engineering, Global Security, Catastrophe Modelling and Digital expertise. Chubb’s Terrorism Risk Evaluation Services was developed after feedback from corporate customers who wanted to evaluate and better understand potential terrorism and PV… Continue reading Chubb Launches Terrorism Risk Evaluation Services for Multinational Businesses