Washington–Congress should begin work to extend a modified Terrorism Risk Insurance Act or establish a federal terrorism pool system, speakers at an event held by the Washington Legal Foundation said.
Warren Heck, the chairman and chief executive officer of the Greater New York Mutual Insurance Company, said the main criticisms voiced against the federal "backstop" created by TRIA are untrue.
He referred to portions of the Treasury Department report on the TRIA program that said a federal backstop was effectively preventing the growth of a private market and the emergence of new capital for terrorism reinsurance.
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
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
