Business Services Industry
It's time to move on TRIA extension.(Opinions: Terrorism Risk Insurance Act of 2002)
Business Insurance, September, 2004
THERE HASN'T BEEN much good news out of this Congress as far as risk management matters go. Efforts to enact medical malpractice reform, class action reform and asbestos compensation reform have all foundered. Although there's still some talk going on about targeted tort reform and asbestos compensation, the only major issue really left on the table is the extension of the Terrorism Risk Insurance Act-the law that created a federal financial backstop to help insurers cope with possible future catastrophic terrorist losses-through the end of 2007 from its current scheduled expiration at the end of next year.
Fortunately, the resolution of that issue may provide risk managers with one bit of good news out of this soon-to-be adjourned Congress. As we report on...
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