In the days and months leading up to the extension of the Terrorism Risk Insurance Act, a behind-the-scenes battle simmered between a consumer representative and an actuarial group that supported extending the federal reinsurance backstop.
While the two groups held different views regarding TRIA's extension, the real battle was over the issue of disclosure and the question of whether members of the American Academy of Actuaries, when delivering reports to Congress on issues like TRIA, truly are–as they purport to be–independent and objective messengers.
Consumer Federation of America President J. Robert Hunter–who for nearly a year has been urging members of the Academy to disclose their individual employment affiliations in reports to lawmakers–believes the objectivity of Academy subgroups on TRIA, medical malpractice and other issues is questionable.
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