Unusual and Interesting Insurance News

Over the years, we've chronicled such things as virginity and alien abduction insurance (different posts), the risk posed by superheroes simultaneously destroying much of a city while trying to save it, and hole-in-one coverage for sporting events.And now for more:■ Terrorism Risk insurance - Back in 2009, we interviewed Chris Klein, Global Head of Business Intelligence for Guy Carpenter (major risk and reinsurance specialists), who explained why government involvement was necessary in providing reinsurance for major terrorist acts.Four years later, The Cato Institute argues that the Federal Terrorism Risk Insurance Act (TRIA) has passed its sell-by date:"... the Terrorism Risk Insurance Act of 2002 to create a “temporary” federal backstop against catastrophic losses. This program subsidized private risk with public funds through a cost-sharing program for which the government does not receive any compensation ... The private market is capable of underwriting this risk."Interesting analysis.■ On a brighter note, MassMutual recently kicked off a campaign to get parents looking at the topic of life insurance through the eyes of their children. Through a series of cute and compelling videos, MassMutual hopes to get this conversation kickstarted.Here's a sample:■ Finally, I know we've never blogged on this one before:"The Mid-Autumn Festival (scheduled on Sept. 19), is one of China's biggest holidays and features a lantern festival, the exchange of mooncakes and dining ...
Source: InsureBlog - Category: Medical Lawyers and Insurers Source Type: blogs