This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TransRe Comments On Proposed Terror Legislation

TransRe applauds the House Financial Services Committee and its Chairman Jeb Hensarling as well as the Housing and Insurance Subcommittee and its Chairman Randy Neugebauer for introducing H.R. 4871, legislation intended to authorize the Terrorism Risk Insurance Program (“TRIP”) for five years. We understand the hard work and dedication that was required to bring this measure forward and we appreciate the significance of the Committee’s moving forward on a timely basis with the renewal of the Terrorism Risk Insurance Act (“TRIA”).

TransRe supports H.R. 4871 as we believe that this legislation will provide the right balance of consumer and business protection, private sector insurance and reinsurance provision, and government support. By gradually raising the event trigger, H.R. 4871 decreases private industry’s reliance on taxpayers and the current federal reinsurance program.

TransRe notes H.R. 4871’s bifurcation of conventional terrorism from acts of terror perpetrated using nuclear, biological, chemical and radiological means (“NBCR”). Given the current risk appetite of private providers, this bifurcation of conventional acts versus NBCR is a reasonable approach over the TRIP timeframe. We are encouraged that the proposed legislation also includes a certification process, which will provide certainty of cover for insureds as well as insurers and reinsurers following an event.

About TransRe

TransRe is the brand name for Transatlantic Holdings, Inc. and its subsidiaries (including Transatlantic Reinsurance Company). TransRe, wholly owned by Alleghany Corporation (NYSE-Y), is a reinsurance organization headquartered in New York with operations worldwide. Since 1978, TransRe has been offering its clients the capacity, expertise and creativity necessary to structure programs across the full spectrum of property and casualty risks. Visit for additional information.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs