Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Claims News Service, Oct. 3, 2:31 p.m. EST — A new report from the President’s Working Group on Financial Markets (PWG) provides updated insight into the Terrorism Risk Insurance Extension Act (TRIEA) of 2005 and the long-term availability and affordability of insurance for terrorism risk as well as coverage for chemical, nuclear, biological, and radiological (CNBR) events. TRIEA provides a federal backstop to limit the potentially devastating losses insurance companies could incur following a terrorist attack.

According to the report, while there are difficulties in evaluating the long-term nature of the terrorism risk insurance market with a government program in place, a number of developments it deems positive have occurred in the market since Sept. 11, 2006. These include improvements in the ability of insurers to model terrorism risk exposure, an increase in reinsurance capacity, an improvement in the financial health of the insurance industry, a willingness to underwrite additional terrorism risk insurance, falling or stable prices for terrorism risk insurance even as insurers’ retention of risk has increased, and increased buyer demand for coverage.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.