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Protecting the nation's electric grid from terrorist attacks is a top priority

By: Judy Greenwald

Published August 17, 2014 - 6:00am CST

Regulations proposed by the Federal Energy Regulatory Commission to protect the nation's electric grid are mainly prompted by an armed attack last year that knocked out high-voltage transformers in California.

Both House, Senate TRIA bills, place more liability on insurers: Report

By: Rodd Zolkos

Published July 21, 2014 - 3:13pm CST

While bills introduced in the U.S. Senate and House of Representatives to extend the federal terrorism backstop mark progress towards that goal, both would raise the insurance industry’s liability following a terrorist attack.

Insurance industry welcomes Senate approval of seven-year TRIA extension

By: Mark A. Hofmann

Published July 17, 2014 - 12:54pm CST

Insurers and other industry groups are welcoming Thursday's 93-4 Senate vote to extend the federal terrorism insurance backstop for seven years.

IN FOCUS Video: Property/Casualty Insurance Lobbyists

Published July 08, 2014 - 3:56pm CST

In our latest video report, we speak with several top lobbyists for the property/casualty insurance industry and find out what key issues are currently their top priorities on Capitol Hill.

Insurance, business groups urge House not to hike TRIA trigger

By: Mark A. Hofmann

Published July 08, 2014 - 12:27pm CST

A group of insurer and other trade associations has sent a letter to the House of Representatives expressing concern over the increased size of the so-called “trigger” in a House measure that would reauthorize TRIA for five years.

Insurance industry prefers Senate version of TRIA reauthorization bills

By: Mark A. Hofmann

Published June 22, 2014 - 6:00am CST

Differences between House and Senate bills that would reauthorize the federal government's terrorism insurance backstop appear to be resolvable before the program expires Dec. 31.

House committee approves TRIA program extension bill

By: Mark A. Hofmann

Published June 20, 2014 - 10:28am CST

Insurance groups are hailing the House Financial Services Committee's approval Friday morning of a bill that would extend the federal government's terrorism insurance backstop for five years.

TRIA program uncertainty weighs on terrorism insurance market: Report

By: Mark A. Hofmann

Published June 18, 2014 - 10:39am CST

The U.S. terrorism insurance market continues to be “challenged” by uncertainty over whether the federal government's terrorism insurance backstop will be extended, according to a report issued Wednesday by Guy Carpenter & Co. L.L.C.

House lawmaker unveils bill to extend TRIA through 2019

By: Rodd Zolkos

Published June 17, 2014 - 3:37pm CST

A key congressman on insurance issues introduced a bill Tuesday to extend the federal terrorism insurance backstop through 2019.

House discussion draft calls for TRIA extension through 2019

By: Mark A. Hofmann

Published June 12, 2014 - 2:46pm CST

A House legislative discussion draft calls for reauthorizing the federal government's terrorism insurance backstop program through the end of 2019.

Treasury hasn't collected enough insurer data to say if TRIA goals met: GAO

By: Mark A. Hofmann

Published June 11, 2014 - 2:47pm CST

The U.S. Treasury Department is not collecting enough data from insurers to determine whether the goals of the federal government's terrorism insurance backstop program are being met, according to a new GAO report.

Insurance buyers in major cities have much riding on TRIA extension: Analysis

By: Mark A. Hofmann

Published June 11, 2014 - 11:41am CST

Failure to extend the federal government's terrorism insurance backstop program would affect “virtually every property owner or business” in major metropolitan areas that wish to or must carry terrorism insurance, according to an analysis released Wednesday by Moody's Investors Service Inc.

Terrorism, catastrophes, tech drive risk management changes: Former PRIMA leaders

By: Matthew Lerner

Published June 10, 2014 - 12:03pm CST

LONG BEACH, Calif. — Terrorism, technology and catastrophe-driven changes in property insurance are the most significant factors influencing how risk managers think today.

Bonus payout for World Trade Center site workers premature: Court

Published June 10, 2014 - 10:04am CST

(Reuters) — A judge acted prematurely in awarding a $55 million bonus payment to thousands of rescue and cleanup workers at the World Trade Center site who settled lawsuits against New York City over damage to their health, a federal appeals court decided on Monday.

Senate passes bill to renew TRIA, but final outcome is still unclear

By: Mark A. Hofmann

Published June 08, 2014 - 6:00am CST

A key U.S. Senate panel's unanimous approval of a bill to extend the federal terrorism insurance backstop by seven years should speed the reauthorization process in the full Senate, supporters of the legislation contend.

Senate committee approves TRIA extension bill

By: Mark A. Hofmann

Published June 03, 2014 - 11:20am CST

The Senate Banking, Housing and Urban Affairs Committee has unanimously approved a measure that would extend the federal terrorism insurance backstop by seven years.

Terrorism Risk Insurance Act renewal bill set for June 3 vote

By: Jerry Geisel

Published May 30, 2014 - 3:20pm CST

The Senate Banking Committee is scheduled to vote June 3 on legislation to renew the Terrorism Risk Insurance Act.

GALLERY: 2014 Cyber Risk Summit

Published May 30, 2014 - 10:08am CST

View photos from Business Insurance's inaugural Cyber Risk Summit in Washington featuring keynote speaker Rep. Mike Rogers, R-Mich., chairman of the House Intelligence Committee.

IN FOCUS Video: Cyber Risk Summit

Published May 27, 2014 - 8:09pm CST

In our latest video report, business and industry leaders gathered on May 22, 2014 to address and discuss cyber terrorism and cyber risks in Washington, D.C. during the Business Insurance Cyber Risk Summit.

Don't use terrorism as model to analyze cyber threats: ISA head

By: Mark A. Hofmann

Published May 22, 2014 - 3:02pm CST

WASHINGTON — Terrorism is not the right model to use in analyzing the cyber threat, according to the head of the Internet Security Alliance, an Arlington, Virginia-based trade association.

Congressman Mike Rogers headlining Business Insurance Cyber Risk Summit

By: Rodd Zolkos

Published May 16, 2014 - 8:00am CST

U.S. Rep. Mike Rogers, R-Mich., chairman of the House Intelligence Committee, will be the opening keynote speaker at the 2014 Business Insurance Cyber Risk Summit on May 22 in Washington D.C.

GALLERY: RIMS 2014

Published May 13, 2014 - 10:47am CST

View photos from the Risk & Insurance Society Inc.'s annual conference and exhibition in Denver April 27-30.

RIMS panelists urge risk managers to prepare for possible expiration of TRIA

By: Rodd Zolkos

Published May 11, 2014 - 6:00am CST

Uncertainty over renewal of the federal terrorism insurance backstop presents considerable risk management challenges but also opportunities for risk managers who prepare appropriately.

Employers may face higher workers comp pricing without TRIA renewal: Study

By: Sheena Harrison

Published May 07, 2014 - 11:39am CST

Failure to renew or replace the federal terrorism insurance backstop could push employers into the residual workers compensation market and require them to pay higher premiums, potentially causing a reduction in overall economic growth.

IN FOCUS Video: TRIA Renewal

Published April 30, 2014 - 12:31pm CST

In our latest video report, Business Insurance talks to risk management industry leaders about the impending expiration of the federal government's Terrorism Risk insurance Act.

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