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National Underwriter Property & Casualty-Risk & Benefits Management
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TRIA, ART fill terrorism coverage gaps: with expiration looming, risk managers wonder if market will disappear.
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Article Excerpt THANKS TO THE TERRORISM RISK and Insurance Act and the federal reinsurance backstop it put into place, some risk managers are finding they can carry adequate coverage more affordably, with better terms and conditions, while others are simply choosing to do without.
A risk manager of what could be considered a high-risk company is Brendon Cahalan, corporate insurance manager with KeySpan Corp. and outgoing president of the New York Chapter of the Risk and Insurance Management Society Inc. KeySpan is the largest distributor of natural gas in the Northeast, with 2.5 million gas customers and more than 12,000 employees, according to the company's Web site.
"Certainly a company like KeySpan, being an energy producer, wants to have terrorism coverage in the sense that we're viewed a...
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