TRIA Sunset Will Restrict Terrorism Coverage In Big Cities, Experts Warn
It's still almost a year away, but the possibility that federal lawmakers would let the Terrorism Risk Insurance Act sunset at the end of 2005 without enacting any other similar backup program is prompting property-casualty insurers to examine how they might be affected by terrorism exposures and adjust their exposures accordingly.
In fact, primary insurers are already forced to grapple with the possibility of their terrorism exposures having no federal backstop because any policy for a one-year period or longer starting after Jan. 1 would have overhang that extends beyond TRIAs Dec. 31, 2005 expiration date.
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