Claims News Service, Oct. 4, 10:56 a.m. EDT — In a new report, GE Insurance Solutions examines the debate over extension of The Terrorism Risk Insurance Act (TRIA) and its effect on the workers' compensation system.
In the paper titled “TRIA Sunset and Its Impact on Workers' Compensation,” Bill Carney, workers' compensation product leader, writes on the possible sunset of TRIA and the consequences for the workers' compensation delivery system should a chemical, biological, nuclear or radiological (CBNR) attack or similar catastrophic terrorist event occur.
“If TRIA is allowed to expire at the end of the year, workers' comp insurers and self-insured employers cannot exclude terrorism coverage, unlike property insurers,” says Carney. “Consequently, there's a great deal at stake here, not the least of which is the future of the system which was designed to protect America's workers.”
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