The Report on the Terrorism Risk Insurance Act supports industry assertions that the availability of terrorism risk insurance is tightening in light of uncertainty around the program's renewal.
Industry groups also supported the report's finding that "the private market does not have the capacity to provide reinsurance for terrorism risk to the extent currently provided by TRIA," as PCI Senior Vice President Robert Gordon states.
But both PCI and AIA questioned the finding that increasing the industry's skin in the game through additions to the co-share, deductible, or trigger would not impact availability.
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