The Risk Management Society is lobbying for an extension in the federal government's terrorism reinsurance program, according to Business Insurance. The program was originally enacted in 2002 and in 2007 it was extended until 2014. In a letter to the Federal Insurance Office, RIMS President Deborah Luthi says federally funded reinsurance is necessary because “the private sector alone is not able to sustain a competitive and healthy market for terrorism risk insurance.”
A survey of RIMs members found 85% support reauthorizing the federal terrorism reinsurance program.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
