NAII Questions Treasury AuthorityWashington
The Treasury Department has no authority to promulgate financialstandards for federally approved insurers under the Terrorism RiskInsurance Act, the National Association of Independent Insurerssays.
In comments filed with the Departments Office of FinancialInstitutions, the Des Plaines, Ill.-based association said thatwhile it understands Treasurys desire to standardize the financialcriteria for insurers participating in the Terrorism Risk InsuranceProgram (TRIP), the legislation does not grant Treasury thisauthority.
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