Insurers, Employers Push Congress to Renew TRIA before Year's End

By Mark Larson, ReporterThe political push is on through year's end by insurers, bankers and employers who want Congress to reauthorize the Terrorism Risk Insurance Act, set to expire at year's end, to avoid being severely underfunded in case insured employers are hit by a catastrophic terrorist attack.TRIA's reauthorization is critical to workers' compensation insurers, since they cannot exclude coverage for acts of terrorism or war, as they can with other policies. Carriers most at risk are those with policyholders with large consolidations of employees in buildings such as u...