Insurers Already Fretting About Terrorism Backstop's Pending Expiration

It won't expire for another two years, but insurance groups and rate-makers already are warning about the impact on rates if the Terrorism Risk Insurance Act is not renewed in 2020. The National Council on Compensation Insurance this week filed an endorsement and a notice of a possible change in rates if Congress does not reauthorize the federal backstop for catastrophic losses from a terrorist attack.  All 35 states for which the NCCI recommends rate levels should be prepared because most workers' compensation policies will already be in effect before the act expires at the...