Choose from any of our reports and we will be happy to send it/them to you via email at no cost.

    Federal Terrorism Bill Renewed, But We Still Need to Be Careful

    At the worst possible time, it looked as though the federal backstop to terrorism insurance (TRIA) might not be renewed.  Since then, the renewal bill passed congress and was signed into law.

    Avoiding Market Instability

    Nonrenewal of TRIA would have dried up the private market for terrorism insurance.  Additionally, policyholders’ terrorism coverage may have been terminated due to sunset clauses.

    Quality Still Required

    Even with TRIA, the quality of terrorism coverage still needs to be monitored.  Terrorism coverage is broken down into “certified” and “non-certified”.  If you have “terrorism insurance”, you may have one or the other, or both.  It does make a big difference.  For example, the Boston Marathon bombing was never “certified”.  It is much more complex than your insurance proposal may indicate.

    We will discuss TRIA, among other subjects, at the Risk Advisory Breakfast on Thursday, January 29.

    Frank Licata

    [email protected]

    Jan 22, 2015

    Licata Risk Licata Risk & Insurance Advisors, Inc.
    265 Franklin Street
    Suite 1702
    Boston, MA 02110
    617-451-2140   advice@licatarisk
    501 East Las Olas Boulevard
    Suite 300/200
    Fort Lauderdale, FL 33301
    LicataRisk Advisors is an independent risk management and insurance consulting firm. We are not brokers and we do not sell insurance. We are not connected to any insurance company or product in any way and do not receive commissions. This is an important difference as you will have an expert on your side who is only committed to you.

    Licata Risk is not a law firm and does not practice law. General advice and contract input by the consultants, including those who are attorneys, is to provide insight into the risk and insurance aspects. Your attorney should be the final authority on any legal matter.