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TRIA Claim Rule Questioned

Washington

The U.S. Treasury Department should reword a proposed rule on claims payments under the Terrorism Risk Insurance Program to help assure that no one will take unfair advantage of the system, the Property-Casualty Insurance Association of America contends.

In comments filed with Treasury, PCI said that the way the proposed rule is worded, it is possible that the system could be manipulated so that an insurer could fail, thus putting the burden for payment of losses into the guaranty fund system.

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