A bill that would extend the Terrorism Risk Insurance Act for seven years has passed the Senate banking committee. APCIA's Nat Wienecke said "broad bipartisan support" in the House and the Senate committee "sends a clear message of the critical role TRIA plays in stabilizing the economy and the overwhelming call to get it done this year."
Insurers and other businesses "need to listen deeply to the anxieties that people feel" with regard to issues such as income inequality, and they also should "do a better job of articulating the benefits of private markets and democratic capitalism," APCIA President and CEO David Sampson said. Property/casualty insurance is a vital risk-transfer mechanism as many people lack the savings to rebuild amid increasing natural catastrophes, he said.
APCIA has named Sarah Revell as assistant vice president of public affairs in Florida, where she will work alongside Logan McFaddin, assistant vice president for state government relations. Revell, who joins APCIA from the Florida Department of State, "is a dynamic communicator and strategist who will be integral in building the new APCIA," said Jessica Hanna, senior vice president of public affairs.
The National Highway Traffic Safety Administration's acting administrator, James Owens, faced questions at a Senate commerce committee hearing about regulation of autonomous vehicles. NHTSA plans to set standards for automatic braking and steering once "the technology is proven," and it also plans to reach out to Tesla about the safety of its Autopilot feature, Owens said.
Rep. Mike Rogers, R-Ala. and Sam Graves, R-Mo., say the Department of Homeland Security's proposal to have the Transportation Security Administration counter unmanned aircraft "goes far beyond" current congressional authority. A TSA spokesperson responded by saying the agency is "committed to a unified federal response" and seeks to mitigate drones in "limited, emergency circumstances."
Speakers at the International Risk Management Institute's Construction Risk Conference in Seattle said construction companies should have intricate plans to prepare for cybercrime. "You don't pick your team on the day of the Super Bowl, plan ahead," said Scott Takaoka, vice president of Aon's cybersolutions group.
The National Transportation Safety Board said a distracted backup driver was the probable cause of an Uber autonomous-vehicle crash that killed a pedestrian in Arizona in 2018. The NTSB said the driver "was visually distracted throughout the trip by her personal cell phone," and it also cited an "ineffective safety culture" at Uber as a contributing factor in the incident.
A seven-year extension of the Terrorism Risk Insurance Act is proceeding to the Senate after passing the House in a 385-22 vote. APCIA's Nat Wienecke said Congress can provide greater economic certainty by approving the reauthorization this year, and he noted that the industry is looking forward to the results of a cyberexposure data study that would be required under the TRIA extension bill.
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