TRIA Survey Responses Due April 1
By Steven Brostoff, Washington Editor
NU Online News Service, March 30, 12:10 p.m. EST–The Treasury Department is urging insurance companies to complete and return questionnaires on the cost and purchase of terrorism insurance coverage by April 1.[@@]
A Treasury Department representative told National Underwriter that the Terrorism Risk Insurance Program is still accepting responses. So far, she said, the rate of response has been encouraging.
A good response rate is important, she said, to assure full and accurate survey results.
The Treasury representative stressed that confidentiality of the data will be strongly protected. The survey is mandated under the Terrorism Risk Insurance Act.
The goal of the survey is for Treasury to provide Congress with an assessment of the effectiveness of the program, the likely capacity of the property-casualty industry to offer terrorism coverage after TRIA sunsets Dec. 31, 2005, and the availability and affordability of terrorism insurance for a variety of policyholders.
In addition, the survey asks for information about insurer financial conditions, including the availability of reinsurance.
In addition to mailing in survey forms, participants can complete them on the Web at www.triasurvey.org or by calling 888-891-6883.
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