U.S. officials presented contrasting views on the Terrorism Risk Insurance Act (TRIA) on Thursday. An acting treasury secretary warned about "serious policy questions" while a Louisiana representative said that congressional efforts to amend the soon-to-be-expired legislation were "ahead of the crisis."
TRIA, a short-term legislative insurance solution, was drawn up by Senators Christopher Dodd (D-CT) and Robert Bennett (R-UT) in 2002, following the September 11 attacks. The bill placed the federal government in the commercial property and casualty terrorism risk reinsurance business for t...
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