American Academy of Actuaries Writes to Congress Urging TRIA Renewal

The American Academy of Actuaries’ Casualty Practice Council has urged reauthorization of the federal Terrorism Risk Insurance Act in letters to the leadership of the U.S. House of Representatives and the Senate, the academy announced. The Senate letter, posted on the academy’s website, is addressed to Senate Majority Leader Harry Reid, D-Nevada, and Senate Minority Leader Mitch McConnell, R-Kentucky, who will become majority leader in the next Congress. The academy’s letter says that TRIA “provides a needed backstop for extreme losses arising from acts of terrori...