Federal support for terrorism risk reinsurance must be maintained because the private sector cannot provide a competitive market, the Risk and Insurance Management Society (Rims) has warned.
The influential body of top US insurance buyers has also raised strong opposition to proposed legislation that would place significant restrictions on domestic insurers that cede reinsurance to their overseas affiliates.
In a 27 August letter addressed to Federal Insurance Office (FIO) director Michael McRaith, Rims urged for a third extension of the...
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