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Treasury Report on Terrorism Insurance: Exec Summary

National News • June 30, 2005
The following is the Introduction and the Executive Summary of the June 30, 2005 report from the Treasury Department on the Terrorism Risk Insurance Act of 2002 including its assessment of the act ...

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Subject: Bravo! Can the industry now get its act together?

Posted On: June 30, 2005, 2:16 pm CDT
Posted By: Don P
Comment:
Most industry players will agree that the reason TRIA was needed is that the reinsurers taking on the risk would have been those already taking on too much questionable business...creating a weak link in the reinsurance market. Now that the report shows capacity exists, the reinsurance industry must come to the fore and arrive at a sustainable scheme for insuring the terrorism exposure. Otherwise, the state and possibly federal government will step in and regulate the industry to force it to accept its social responsibility to provide this coverage.
Subject Posted By Posted On
Bravo! Can the industry now get its act together? Don P
Jun 30, 2005, 2:16 pm
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