Working with the new Congress on a renewal of the Terrorism Risk Insurance Act (TRIA) is one of the primary lobbying goals of the P&C industry in 2013.
TRIA, whose enactment in 2002 created a U.S. government reinsurance facility to provide coverage to insurance companies following a declared terrorism event, is set to expire Dec. 31, 2014—and, according to some industry sources, a renewal is by no means a slam-dunk.
Should the federal backstop disappear, the ripple effect on the country's real estate and insurance sectors will resemble more of a tsunami than a wave, observers warn.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
