National News
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Business Leaders Warn of 'Rolling Crisis' As Federal Terror Insurance Program Nears Expiration
National News • March 18, 2005
U.S. business leaders came out in force this week to urge renewal of the federal Terrorism Risk Insurance Act and warn that market restrictions on terror insurance coverage are already beginning ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: Why this panic about TRIA? | tom | Mar 21, 2005, 8:11 am |
| RE: Why this panic about TRIA? | Cindy Thun Figueiredo | Mar 18, 2005, 4:07 pm |
| Why this panic about TRIA? | Peter Rousmaniere | Mar 18, 2005, 12:57 pm |
| Back to article | ||
Subject: Why this panic about TRIA?
It may be because they are afraid that the study will suggest revisions to TRIA that may, for instance, require an up front financial commitment by insurers to maintain the standby facility.
It may be because TRIA as designed is an odd way to provide catastrophic cover to primay carriers, lacking as it does any loss mitigation requirements, and even in more glaring instance in workers comp failing to cover terrorist related work injuries.
Why this panic?