The success of the newly enacted federal Terrorism Risk Insurance Act hinges on how smoothly the implementation process will be for insurers faced with a number of compliance issues, says the National Association of Insurance Commissioners (NAIC).
Enactment of the new legislation imposes many new requirements upon insurers. The U.S. Treasury Department, NAIC and individual states are working to develop an effective implementation strategy that clarifies the laws for consumers, insurers and regulators.
To aid in the transition process, the National Association of Independent Insurers ...
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