The insurance community must seek continuing federal support for terrorism losses because the industry could not pay the claims from a radioactive blast, the leader of a major insurer group warned.
Ernst Csiszar, president and chief executive officer of the Property Casualty Insurers Association of America, made his remarks here in an interview before he addressed the National Council on Compensation Insurance Annual Issues Seminar on regulatory and legislative hot spots.
In his opinion, the extended version of the Terrorism Risk Insurance Act–which expires at the end of next year–”in its current form has no chance of renewal.”
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