Insurers, buyers brace for TRIA decision; fate of federal terrorism program may hinge on Treasury Dept. report due June 30.(WHITE HOUSE MUM)(Terrorism Risk Insurance Act )

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

PROPERTY-CASUALTY INSURERS and commercial insurance buyers are finalizing battle plans to push for extension of the Terrorism Risk Insurance Act as the Bush administration prepares to release a report that will play a key role in determining the fate of TRIA, due to expire on Dec. 31. The Treasury Department report by law must be in the hands of Congress by June 30.

The White House and Treasury gave no hint as to what the report will say and when it will be released, although there is strong speculation it will be presented this week. Rep. Paul Kanjorski, D-Pa., a ranking member of the House Financial Services Committee, last week castigated the White House for lack of attention to the bill and the House Republican leadership for inaction. He warned that the...

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