Regulation/Legislation

You'll never guess which team Lloyd's of London thinks will win the World Cup. OK, maybe you will.

Insurance regulators in Europe wont relax rules designed to protect customers from risks to investments in structures like wind parks and power grids, Gabriel Bernardino said.

From potential adverse impacts on smaller insurers to concern over a "bifurcated" approach to NBCR, industry groups, while pleased with progress on the TRIA front, have reservations about the expected House bill

An insurance broker recently wrote to PC360 with questions about the Terrorism Risk Insurance Act, concerned that the program essentially benefits a few at the expense of the many. We turn to two industry experts for responses, and add some basic information about the program's structure.

The Republican leadership of the House Financial Services Committee is proposing a substantive reduction in potential government liability for terrorism attacks in order to have terrorism risk insurance transition to the private sector as soon as possible, a Republican lawmaker tells PC360.

The Terrorism Risk Insurance Act would be reauthorized in its present form but with much greater industry liability for five years under legislation to be unveiled today by House FSC Republicans, a compromise from an earlier draft calling for a three-year extension.