Risk and Recovery

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Category Archives: Terrorism Risk Insurance Program Reauthorization Act

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Terrorism Risk Insurance Program Reauthorized, But Some Uncertainty Remains

By Michael F. Derksen on Posted in Commercial General Liability (CGL), Terrorism Risk Insurance Program Reauthorization Act
On Monday, President Barack Obama signed into law a six-year extension of the Terrorism Risk Insurance Program after the House and Senate passed the bill by votes of 416-5 and 93-4, respectively. As we previously reported, Congress’ failure to extend the program, under which the federal government is responsible for a substantial share of insured … Continue Reading

Policyholders Face Uncertainty after Lapse of Terrorism Risk Insurance Program

By Michael F. Derksen and Ronald A. Valenzuela on Posted in Commercial General Liability (CGL), Terrorism Risk Insurance Program Reauthorization Act
Congress’ failure to renew the Terrorism Risk Insurance Program Reauthorization Act (“TRIPRA”), a 2007 extension of the 2002 Terrorism Risk Insurance Act, could have significant implications for companies that rely upon property or casualty policies to manage risk.  TRIPRA expired on December 31, 2014, potentially triggering policy endorsements that exclude coverage, previously provided under those … Continue Reading
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