TRIA 'Insurer Affiliations' Explained

NCCI issued an explanatory bulletin yesterday regarding the TRIA proposed rule on "Insurer Affiliations." The U.S. Treasury Department, through the Terrorism Insurance Program (TRIP), issued a Proposed Rule (PDF) on January 18, 2005 to clarify an aspect of the calculation of insurer deductibles for affiliates of insurance companies. The rule proposes that for purposes of calculating insurer deductibles and meeting the requirements for claiming the federal share of compensation for insured losses, affiliations are to be determined based on the insurer's circumstances as of the date of the firs...