The Department of the Treasury on Nov. 25, issued proposed rules to address Claims Procedures and Audit, and Investigative and Civil Money Penalty Procedures implementing the Terrorism Risk Insurance Act of 2003 (TRIA). Written comments are due to Treasury by December 25, 2003. A final rule is expected to be issued shortly thereafter.
"The National Association of Independent Insurers (NAII), has remained actively involved in the implementation process and is pleased that proposed claims rules have finally been released," said Carl Parks, senior vice president, government relations.
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