Category Archives: Terrorism

Senate Passes 7-Year TRIA Extension; House Warns of Further Delays

TRIA

As widely anticipated, the U.S. Senate today, in a 93 to 4 vote, passed a seven-year extension of the Terrorism Risk Insurance Act. The legislation—authored by New York Congressman Chuck Schummer, along with Mark Kirk of Illinois, Bob Menendez of … Continue reading →

Pakistan Situation Update: Karachi Airport Attack

Attack at Jinnah International Airport

In a significant challenge to Pakistan’s authority and ability to protect strategic assets, Tehreek-e-Taliban Pakistan (TTP) has claimed responsibility for an audacious attack at Karachi’s Jinnah International Airport Sunday night (8th – 9th June). Continue reading →

Current TRIPRA Momentum Bodes Well for Passage

capitol+flag

On June 3rd 2014, the Banking, Housing and Urban Affairs Committee of the U.S. Senate took a step forward in the Terrorism Risk Insurance Program Reauthorization Act 2007 extension debate by reporting out legislation (S.2244) to extend the program for … Continue reading →

Terrorism in Kenya – Situation Update

Nairobi bombing May 16

The tempo, targeting and geographical extent of the terrorist threat in Kenya point to the prospect of further attacks (including abductions) in the short to medium term in spite of considerable counter-terrorism efforts by Kenya and the international community. Continue reading →

Senate Bill to Extend TRIA: Positive, but no Guarantee

Senate Passes TRIA

Yesterday, Democratic and Republican Senators  jointly  submitted draft legislation that proposes a seven-year extension to the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIPRA”).  This seven-year extension proposes minor changes to the current legislation: Continue reading →

RAND Study: TRIA Expiration Could “Affect U.S. National Resilience”

Pentagon 9/11 attack

The Terrorism Risk Insurance Act (TRIA), which provides a federal backstop for insured terrorism losses, will expire later in 2014. There’s been plenty of discussion about the disruption to insurance markets that could be created by failure to renew this … Continue reading →

Marketplace Realities 2014: Rising Rates for Terrorism and Political Risk

world in crosshairs

No doubt there’s a certain satisfaction when the marketplace predictions we make in October start proving right in February. But it’s hard to celebrate when those predictions called for rising prices for our clients. That’s what we predicted in the … Continue reading →

Sochi 2014 Olympics: Threats and Drivers

Security at the Sochi Olympics

As I write, hundreds of thousands of spectators and participants will be converging by air, sea, rail and road towards the Black Sea town of Sochi, sitting in the shadow of the now snow-laden Caucasian Mountains and the winter sports … Continue reading →

What Risks Will Emerge in 2014?

Shark Fin Emerging

Each year, we ask our subject matter experts what risks they’re keeping an eye on for the months ahead. Here are the ten emerging risks our bloggers are anticipating for 2014. Which do you think will actually emerge as a … Continue reading →

Rough Ride for Terrorism Insurance on the TRIA Trail

American Umbrella: TRIA protection

No one knows where the TRIA trail will lead: to another extension or the end of the line for the U.S. government backstop for terrorism insurance, which expires at the end of 2014. What we do know is that disruption … Continue reading →