The US Treasury has announced that it is to extend the 'make available' provision of the Terrorism Risk Insurance Act (Tria) until the end of 2005.
The provision, which was due to expire at the end of 2004, requires insurers participating in the scheme to make terrorism coverage available under the same terms and conditions used for other risks.
Under the terms of Tria, the US government compensates insurers for 90% of their terrorism losses up to $100bn, dependent on insurers paying a deductible.
Lloyd's worldwide markets director Julian James said Lloyd's welcomed the development.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
