Washington–A Treasury report outlining the Bush administration'sposition on the Terrorism Risk Insurance Act dims the prospectsthat the measure providing a backstop for insurers will be renewedat the end of this year, according to the head of an insurers'trade group.
Ken Crerar, president of the Council of Insurance Agents andBrokers, gave that assessment in a memo to his membership, whichsought to accent the positive even as others in the industry wereprivately expressing pessimism.
Mr. Crerar wrote that it was "clear that the administration isthrowing a considerable amount of cold water on prospects forrenewal of TRIA past its expiration at the end of this year, andraised the bar high for any acceptable alternative solution."
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