Robert Hartwig, president and economist with the Insurance Information Institute, advocated for further extension of the Terrorism Risk Insurance Act (TRIA) on behalf of the P&C industry at a hearing conducted by the Committee on Financial Services yesterday, entitled “TRIA at Ten Years: The Future of the Terrorism Risk Insurance Program.”
The hearing was an opportunity for Congress to assess TRIA and the private sector’s readiness to step in and handle the risk without the government providing reinsurance when an act of terrorism is declared.
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