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Nathan Bacchus

Two recent reports from the Presidential Working Group (PWG) on Financial Markets and Marsh & McLennan Companies support the argument for a long term extension of the federal Terrorism Risk Insurance Program, otherwise known as TRIA. The much anticipated report from the PWG draws upon comments from many industry groups and interested parties, including RIMS, [...]

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Key U.S. Senators have announced a bi-partisan agreement on a long term TRIA extension. Senators Charles Schumer (D-NY), Dean Heller (R-NV), Jack Reed (D-RI), Mark Kirk (R-IL), Chris Murphy (D-CT) and Mike Johanns (R-NE) are the cosponsors of the legislation that is expected to be introduced in the next day or two. “In a post-9-11 [...]

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On Tuesday, February 25, the Senate Banking, Housing, and Urban Affairs Committee held a hearing on “Reauthorizing TRIA: The State of the Terrorism Risk Insurance Market.” Witnesses from several industry groups advocated for a long-term, if not permanent, extension of the program beyond its current deadline of December 31, 2014. “The availability and affordability of [...]

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On November 19, 2013 the Senate Finance Committee released its proposals for reforming the United States international tax system with the goal of making U.S. businesses more competitive. One of the provisions included in the draft was the reinsurance tax, commonly referred to as the “Neal Bill.” This provision, introduced in the past few legislative [...]

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