Business Services Industry

Study calls for broadening U.S. terror coverage; RAND report cites TRIA gaps.(News)(Terrorism Risk Insurance Act )

Business Insurance, June, 2005 by Ceniceros, Roberto

Byline: ROBERTO CENICEROS While policyholders and insurers await a key U.S. Treasury Department report on long-term proposals for terrorism insurance, a study released last week maintains that merely extending the availability of the current coverage is inadequate. Coverage now available under the federal Terrorism Risk Insurance Act falls short because terrorism threats are evolving, with international and domestic terrorists increasingly placing private-sector companies in their crosshairs, according to a RAND Corp.

study financed by policyholders and insurers and released last week. Still, the study concludes that allowing TRIA to expire without additional congressional action would only magnify the economic consequences of an attack. The study suggests...

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