WASHINGTON–Trade groups representing smaller insurers are asking Congress to delay a decision whether to mandate coverage of a nuclear, biological, chemical and radiological attack in any legislation extending the Terrorism Risk Insurance Act.
The letter calls for careful study and analysis by a commission of how NBCR risk should be handled, rather than a “premature and counterproductive mandate to provide NBCR coverage now.”
The issue is important because the current version of TRIA expires Dec. 31 and its extension is a top priority of all insurers.
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