Insurance Market Remains Calm as Carriers Wait for TRIA Extension

Insurers expect the new U.S. Congress to act quickly to reauthorize the Terrorism Risk Insurance Act, so the lapse in coverage since the program expired Dec. 31 hasn’t impacted the workers’ compensation industry much, experts said Monday. Doug Holmes, president of UWC Strategic Services, said members of Congress – including leaders in both houses – have been working since the end of the session in December to expedite the reintroduction of bills to extend TRIA. A new session of Congress begins today. “There have been a number of meetings going on in the interim ...