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TRIA Clarification

Draws Agents Praise


The Council of Insurance Agents and Brokers is praising the latest Treasury Department interim regulations on the terrorism insurance program for clarifying the characterization of “premiums.”

“Specifically, the Treasury has responded positively to the Councils request for clarification that premiums collected for terrorism coverage under the federal backstop program are indeed premiums and not surcharges (subject to broker intermediation),” said Ken A. Crerar, president of the Washington-based Council.

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