Terrorism Risk Insurance Act

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Federal subsidies limit alternatives role in terrorism reinsurance: CBO

The involvement of the U.S. government in provision of terrorism insurance, through the Terrorism Risk Insurance Program under TRIA, limits traditional and alternative reinsurance capital's ability to play a meaningful role, according to the Congressional Budget Office (CBO).The availability of capacity for terrorism risk reinsurance has not been in doubt read the full article →

Reauthorised TRIA to seek advice from ILS & alternative risk markets

Yesterday the Terrorism Risk Reauthorisation Act of 2015 (HR 26) passed the U.S. Senate, renewing the government backed terrorism insurance facility for six years. Part of the reauthorisation calls for advice to be sought from the ILS and alternative risk markets.The future of the Terrorism Risk Insurance Act had been read the full article →

In TRIA’s absence no shortage of terrorism reinsurance capacity: S&P

The United States Congress is not going to extend the Terrorism Risk Insurance Act (TRIA), the financial backstop for U.S. property insurers against terrorist attacks, this year but with reinsurance capacity high this may result in a shortage of terrorism reinsurance cover.Ratings agency Standard & Poor's believes that the longer read the full article →

Terrorism re/insurance availability helped by alternative capital inflow

The availability and price of terrorism risk insurance and reinsurance coverage has increased this year, as reinsurers look to provide additional terrorism re/insurance capacity as competition from alternative capital prompted them to be more supportive of the class.In a report on the terrorism risk insurance and reinsurance market published by read the full article →

‘Reinsurance, capital markets reluctant to take on terrorism risk’

So says the U.S. President’s Working Group on Financial Markets (PWG), in a recent report to Congress looking into the long-term availability and affordability of terrorism risk insurance which was published last Thursday.The PWG is mandated under the Terrorism Risk Insurance Act (TRIA) to analyse and report on the availability read the full article →