Burlington, VT—Thanks to the federal government’s recent update of its terrorism risk bill and the commercial insurance industry’s response to terrorism risk, U.S. captive insurance companies have new opportunities to help reduce the potential financial impact of terrorism risk. So says captive insurance veteran Thomas P. Stokes in a white paper released by The Towner Management Group.
Stokes, Practice Leader, Risk Consulting for TMG and managing principal of The Towner Management Group (NY) LLC, details aspects of the Terrorism Risk Insurance Program Reauthorization Act, which extends and creates additional government insurance coverage for certain acts of terrorism. Stokes contends that for many companies, combining government protection with available commercial coverage and captive insurance may be the most cost-effective way to protect against this risk and limit exposure.
To read the paper in full, go to www.townermanagement.com and click Insights, then White Papers. For further information about terrorism risk and how Towner Management can help you meet your risk financing challenges, contact us at businessUS@townermanagement.com.
The Towner Management Group (TMG) is an independent, full-service captive insurance and international business entity management company with a multi-domicile reach. We provide our clients with alternative risk solutions to meet their diverse needs. TMG is headquartered in Barbados, where it is the largest manager, and in Vermont, where it is ideally situated to partner with companies that wish to establish domestic captive domiciles. TMG also manages captive insurance companies, International Business Companies (IBCs) and other offshore entities in Barbados and other jurisdictions.