Congress may not fully address the renewal of the Terrorism Risk Insurance Act before the scheduled expiration of the law at the end of 2014, Marsh & McLennan Cos. warns in a new report.
That would mean insurers would not be obliged to offer terrorism coverage, which would make this insurance difficult to acquire at reasonable cost for many insureds.
Besides property coverage, the workers compensation market would likely be strongly impacted by the absence of, or a serious modification to, TRIA.
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