White House mum on TRIA.(Senate Hearing Postponed)(Terrorism Risk Insurance Act)

National Underwriter Property & Casualty-Risk & Benefits Management, March, 2005 by Postal, Arthur D.

The White House sent a chill through the insurance industry last week when its designated2 representative declined to tip the Bush Administration's hand on the fate of the Terrorism Risk Insurance Act--which expires Dec. 31--despite advance notice that he might do so. Greg Zerzan, the U.S.

Treasury Department's acting assistant secretary for Financial Institutions, spoke from a prepared text and declined to elaborate. Indeed, he would not offer a substantive response when the Washington, D.C. insurance regulator, Larry Mirel, told him that TRIA was "not an unqualified success" because of affordability and availability concerns in urban areas, such as Washington and New York. In addition, he did not respond directly when asked by an official at the American...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.