Insurance buyers and sellers told lawmakers at a joint congressional hearing last week that terrorism insurance coverage will be virtually unavailable without the help of a government backstop.
Lawmakers voiced their views on key issues as well, including the question of whether the risks involved are insurable by the private insurance market.
Terry Fleming, director of external affairs for the New York-based Risk and Insurance Management Society, said, "We think that some form of public-private partnership is required."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
