Terrorism Risk and Insurance Archives - Page 5 of 6

Aon’s Terrorism Threat Map Identifies a Shift in Terrorism Risk

Jun 16, 2009 | Latin American Developments, Terrorism Risk and Insurance | European Union, United Kingdom, United States

Aon recently released an updated “Terrorism Threat Map” in which it indicates the current threat of terrorist attacks across the world. The Map shows a trend towards fewer terrorist attacks in the Middle East but increased activity in southeast Asia.

President Obama’s Proposed Budget Calls for Reduction to TRIA

May 15, 2009 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

One of the proposed budget savings recently proposed by President Obama is a reduction in the federal government’s role in the terrorism insurance market via a reduction in funding of Terrorism Risk Insurance Act (TRIA).

Heirs of Terror Victim Seek to Satisfy Outstanding Judgment Against Hamas Using TRIA

Mar 20, 2009 | New York Developments, Terrorism Risk and Insurance | United States

The heirs of the victim of a 1996 terrorist attack in Israel who, in an earlier federal court proceeding, were recently awarded a judgment against Hamas for over $100 million for damages suffered as a result of the terrorist attack, recently filed a Petition seeking to satisfy the outstanding judgment from funds in a Hamas bank account in the New York branch of an Egyptian bank.

Treasury Department Proposes Rule Implementing Cap on Terrorism Risk Insurance Program

Oct 27, 2008 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

The Treasury Department recently proposed a rule that would implement the statutory requirements in Section 103(e) of the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIPRA”) that caps the annual liability of the Terrorism Risk Insurance Program (the “Program”) for insured losses at $100 billion.

New York’s Highest Court Holds that Policy with Terrorism Exclusion Restricts the Cause of Potential Covered Damages

Jul 11, 2008 | Coverage & Claims, New York Developments, Terrorism Risk and Insurance | United States

Last month, the New York Court of Appeals held that a tenant breached its lease and, in doing so, violated New York Insurance Law § 3404. The court ruled that the lease was breached because the tenant obtaining insurance coverage that explicitly excluded terrorism losses from coverage.

Federal Judge Rules That Policy Exclusion Severely Limits Port Authorities’ WTC Claims

Mar 3, 2008 | Coverage & Claims, Terrorism Risk and Insurance | United States

Last week, Judge Barbara Jones of the United States District Court for the Southern District of New York ruled that a policy exclusion in the Port Authority’s Policy effectively barred coverage for damage done to all but one of the buildings at the World Trade Center complex and the PATH train station.

BREAKING NEWS — President Bush Extends Terrorism Risk Insurance Program

Dec 26, 2007 | Federal Legislative Developments, Industry Developments, Regulatory, Terrorism Risk and Insurance | United States

Earlier today, President Bush signed into law the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIPRA”), which provides a seven-year extension of the Terrorism Risk Insurance Program, originally created in the wake of September 11 by Terrorism Risk Insurance Act of 2002 (“TRIA”) and extended by the Terrorism Risk Insurance Extension Act of 2005 (“TRIEA”).

New York Lawmakers Request Inclusion of “Reset” Provision in any TRIA Extension

Dec 4, 2007 | New York Developments, Regulatory, Terrorism Risk and Insurance | United States

With Congress scrambling to pass legislation extending the Federal Terrorism Risk Insurance Program before its expiration at the end of the month, New York lawmakers requested yesterday that any final extension act include a “reset” provision. Such a provision would lower the trigger levels for federal reimbursements under the TRIA program in areas already hit by a terrorist attack.

Senate Approves Terrorism Risk Insurance Program Reauthorization Act of 2007

Nov 19, 2007 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

On Friday, the Senate approved, by voice vote, the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIPRA”), which seeks to extend the federal Terrorism Risk Insurance Program for an additional 7 years.

Federal Terrorism Risk Insurance Program Moves One Step Closer to Renewal

Oct 19, 2007 | Federal Legislative Developments, Regulatory, Terrorism Risk and Insurance | United States

Renewal of the federal terrorism risk insurance program established by the Terrorism Risk Insurance Act of 2002 (“TRIA”) moved one step closer to reality yesterday when the Senate Banking, Housing and Urban Affairs Committee approved legislation seeking a seven year extension of the program by a 20-1 vote.

Topic: Terrorism Risk and Insurance

Aon’s Terrorism Threat Map Identifies a Shift in Terrorism Risk

President Obama’s Proposed Budget Calls for Reduction to TRIA

Heirs of Terror Victim Seek to Satisfy Outstanding Judgment Against Hamas Using TRIA

Treasury Department Proposes Rule Implementing Cap on Terrorism Risk Insurance Program

New York’s Highest Court Holds that Policy with Terrorism Exclusion Restricts the Cause of Potential Covered Damages

Federal Judge Rules That Policy Exclusion Severely Limits Port Authorities’ WTC Claims

BREAKING NEWS — President Bush Extends Terrorism Risk Insurance Program

New York Lawmakers Request Inclusion of “Reset” Provision in any TRIA Extension

Senate Approves Terrorism Risk Insurance Program Reauthorization Act of 2007

Federal Terrorism Risk Insurance Program Moves One Step Closer to Renewal

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