Terrorism Risk Insurance Program Reauthorization Gains Support

Global risks remain and insurers still need government backstop, according to Guy Carpenter; reform bill raises trigger for attacks.

June 18, 2014

Chris McMahon

The (re)insurance sector does not have the capital necessary to withstand high-loss scenarios that involve nuclear, biological, chemical or radiological weapons, according to a report from Guy Carpenter & Co. LLC, a global risk and reinsurance specialist. And recent legislation to reauthorize the Terrorism Risk Insurance Act has garnered support from insurance industry groups.

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