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Property and casualty insurance associations have commented on the recent passage of House Bill HR 2761, an extension of the Terrorism Risk Insurance Act, called the Terrorism Risk Insurance Revision and Extension Act of 2007.

“We believe the House made several improvements to the existing program that will increase the availability and affordability of terrorism insurance,” said Ben McKay, senior vice president, federal government relations for the Property Casualty Insurers Association of America in a release. “We also think as the legislation moves through the U.S. Senate further revisions should be made to make certain that the very foundation of the program is not undermined. In particular, expanding the TRIA program to require insurers to ‘make available’ coverage against attacks involving nuclear, biological, chemical, and radiological weapons of mass destruction is unwise in our opinion.”

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