IMUA Elects New Slate of Officers and Board Members
Underwriters, brokers, claims personnel and key industry suppliers converged on the Intercontinental Hotel in Buckhead Atlanta last week for the 83rd Annual Meeting of the Inland Marine Underwriters Association(IMUA). With more than 275 in attendance, the meeting officially got underway with the election of a new slate of officers. Peter Opinante, Swiss Re America, who has served as the Association’s Chairman for the past year, was formerly inaugurated for a second term. Also elected to serve a second term were Deputy Chairperson Michelle Hoehn…
Oversight Hearing on Terrorism Risk Insurance Program
The Senate Committee on Banking, Housing, and Urban Affairs conducted an oversight hearing on the terrorism risk insurance program. The Honorable Brian Roseboro, Under Secretary for Domestic Finance of the Treasury Department, testified about implementation of the program. He acknowledged that there has been little “up take” of terrorism insurance, but declined to speculate on the reason. Mr. Richard Hillman, General Accounting Office (GAO), testified that significant progress has been made in the implementation of the Terrorism Risk Insurance Act (TRIA), but that Treasury still has numerous tasks unfinished. Mr. John Degnan, The Chubb Corporation, recommended that the TRIA be extended for two additional years. Mr.