All the headlines from our Political Risk Topic Page, ordered by recency.
Jun 11 2002 // The Alliance of American Insurers (AAI) says it is encouraged that the Senate is now beginning to focus on the terrorism insurance issue with the introduction of a bill (S 2600) by Senators Chris Dodd (D-CT), Harry Reid...
Jun 11 2002 // According to analysts, Standard & Poor’s does not intend to place existing commercial mortgage-backed securities transactions on CreditWatch or take any downgrade action because of terrorism insurance issues.The...
May 28 2002 // A lawsuit filed by Four Times Square Associates challenging its lenders’ demand that it pay a tenfold increase in insurance premiums to provide terrorist coverage on a “trophy building” in Times Square,...
May 24 2002 // The Alliance of American Insurers has written to U.S. Senate Majority Leader Thomas Daschle (D-SD) and Minority Leader Trent Lott (R-MS) urging prompt consideration of the terrorism insurance bill, given the recent...
May 13 2002 // Amid heavy lobbying on the part of financial lenders, insurers, real estate executives and even President Bush, the Democrats and Republicans in the Senate seem to have come to agreement that there is need for some kind of...
May 10 2002 // In the words of security consultant Brian Jenkins, “There will be further incidents of terrorism.”Jenkins, speaking at AIG’s “Terrorism: The Cost of Risk” meeting in Los Angeles, described the...
May 8 2002 // A National Association of Insurance Commissioners (NAIC) committee wanting to add terrorism risk to an existing plan for catastrophe reserving has agreed to slow down after the National Association of Mutual Insurance...
May 3 2002 // New York—The insurance business needs help in the form of terrorism coverage, but it’s no panacea, warns Robert V. Mendelsohn, the American Chief Executive of London-based Royal & Sun Alliance Insurance...
May 2 2002 // Following recent meetings with policy makers in Washington D.C., Lloyd’s Chairman Sax Riley issued a statement urging U.S. lawmakers to pass the stalled terrorist coverage bill. “Lloyd’s was one of the...
Apr 29 2002 // Nuts & Bolts: ACE USA is offering a specialist solution to several specific industry classes with a shortage of terrorism related insurance capacity. The ACE terrorism insurance product is focused on U.S. and Canadian...
Apr 26 2002 // The Chubb Group announced that it has opened a new office in Melbourne, Australia, “to further support the growing demand for political risk insurance in the Asia/Pacific region.”The office is the third...
Apr 15 2002 // The issue of whether or not the government should be in the business of providing terrorism insurance is a confusing one. Congress clearly has a problem with it. Although the House passed its version of a bill that would...
Apr 15 2002 // The impact of the terrorist attacks of September 11th on the property/casualty insurance industry can hardly be overstated—the largest catastrophe loss ever; an unprecedented convergence of coverages, creating a...
Apr 12 2002 // WASHINGTON, D.C.—The chairman of the powerful House Financial Services Committee said here April 11 that he likes the chances for eventual passage of a federal government backup for terrorism insurance.Rep. Mike Oxley...
Apr 12 2002 // ACE USA announced that it would provide a specialist solution to several specific industry classes with a shortage of terrorism related insurance capacity. The ACE terrorism insurance product is focused on U.S. and...
Apr 11 2002 // A recent survey of nearly 1,000 independent agents and brokers conducted by the Independent Insurance Agents of America (IIAA) and the Alliance of American Insurers (AAI) confirms the problems the insurance industry is...
Apr 11 2002 // BOMA International President Sherwood Johnston, III, who met earlier this week with President George W. Bush and other business leaders to discuss the federal government’s role in addressing the unavailability of...
Apr 10 2002 // President Bush’s strong stance on the need for federal terrorism insurance legislation April 8 has won the praise of the Alliance of American Insurers.The President told a White House audience, that included business...
Apr 5 2002 // Six of the world’s largest insurance companies announced that they intend to establish a joint venture in Luxembourg, named Special Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), to provide “limited...
Apr 5 2002 // The White House will again makes its case to get Congress to tackle problems created by a shortage of terrorism insurance since the 9/11 attacks, according to The Washington Post. President Bush is slated to meet with...