Today’s issue of WorkCompRecap features the release of a new research briefing from Marsh on the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA)’s effects on the workers’ compensation market. Without congressional action, TRIPRA is scheduled to expire on December 31 of this year.
Marsh has noted that companies with large employee concentrations will find the workers’ comp market increasingly difficult as insurers are less willing to underwrite risks on those concentrations. Marsh also pointed out that the regulatory nature of workers’ comp prevents insurers from excluding terrorism-related losses. As a result, insurers can only reduce terrorism exposure and protect assets by limiting the amount of capacity deployed, and by raising rates.
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