NU Online News Service, June 14, 12:05 p.m.EDT

The U.S. Department of the Treasury is seeking comments on thelong-term availability and affordability of terrorism riskinsurance.

The Treasury said the Terrorism Risk Insurance Act of 2002, asamended by the Terrorism Risk Insurance Program Reauthorization Actof 2007, requires the President's Working Group on FinancialMarkets, which the Treasury chairs, to perform an ongoing analysisregarding the long-term availability and affordability of insurancefor terrorism risk. The working group must submit a report toCongress this year.

The 2007 legislation extended TRIA until Dec. 31, 2014.

The Treasury said the working group is conducting its analysisin consultation with the National Association of InsuranceCommissioners, representatives of the insurance industry,representatives of the securities industry and representatives ofpolicyholders.

These parties and others have 45 days to submit comments thoughthe FederaleRulemaking Portal.

The Treasury's request for feedback, filed today in the form ofa Federal Register Notice, provides 32 questions that may be usedas guidance for comments. Questions include key factors indetermining private market capacity and availability andaffordability of terrorism coverage; impact of the economy oncoverage availability; changes in underwriting, coverage and demandsince 2006; and the availability and cost of reinsurance.

The working group consists of the Secretary of the Treasury, theChairman of the Federal Reserve Board, the Chairman of theSecurities and Exchange Commission, and the Chairman of theCommodity Futures Trading Commission.

For more information, contact C. Christopher Ledoux, actingdirector, Office of Financial Institutions Policy, at202-622-2730.