Terrorist Attacks Put Reinsurance Lobbyists on Alert
- Topics:
- Insurance,
- Terrorism Insurance
- Tags:
- American City Business Journals Inc.,
- Terrorism Risk Insurance Act,
- Terrorism,
- Reinsurance,
- Regulations,
- Insurance Company,
- Insurance,
- Homeland Security,
- Government,
- Corporate Insurance,
- ...
- Source:
- American City Business Journals
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Overview: Terrorism seems to be on everyone's mind following the July 7 attack on the London underground. It is certainly on the mind of Massachusetts' insurance companies, which along with their national counterparts are lobbying Congress to extend the federal Terrorism Risk Insurance Act. Commonly known as TRIA, the law is set to expire on Jan. 1. Passed following the Sept. 11, 2001, terrorist attacks, the law created a safety net for insurance companies so they wouldn't be discouraged from writing policies covering such attacks.
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