Stakeholders seeking reauthorization of the Terrorism Risk Insurance Act are holding an emergency meeting today to discuss next steps in the wake of an alarming draft House bill that would effectively phase out the program over three years.
"It is about to get ugly," was the way a key industry lobbyist summed up the draft of the Terrorism Risk Insurance Modernization Act (TRIM) proposal.
The meeting will be held at 3 p.m. in the offices of the Chamber of Commerce. Representatives of insurers, insureds and agents and brokers, as well as such allied industries as mortgage bankers and commercial real estate interests will be attending, according to industry officials.
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