TRIA Sunset Will Restrict Terrorism Coverage In BigCities, Experts Warn

It's still almost a year away, but the possibility that federallawmakers would let the Terrorism Risk Insurance Act sunset at theend of 2005 without enacting any other similar backup program isprompting property-casualty insurers to examine how they might beaffected by terrorism exposures and adjust their exposuresaccordingly.

In fact, primary insurers are already forced to grapple with thepossibility of their terrorism exposures having no federal backstopbecause any policy for a one-year period or longer starting afterJan. 1 would have overhang that extends beyond TRIAs Dec. 31, 2005expiration date.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.