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News Link • TERRORISM

Treasury Turns to Public For Input on Terrorism Insurance

• propertycasualty360.com
 

The new request for data on behalf of the President’s Working Group on Financial Markets is coming as insurance and allied industries are ramping up their efforts to persuade Congress to act promptly on renewal of the existing Terrorism Risk Insurance Act, which expires at the end of next year.

Comments are due by Aug. 2. The Working Group is composed of the top members of most of the federal financial services regulatory agencies.

The Property Casualty Insurers Association of America, the American Insurance Association and the National Association of Mutual Insurance Companies all hailed the Treasury decision as an important step in getting TRIA extended for a substantive period of time.

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