Brokers Back TRIA Extension
Eighty percent of those at the nation's leading commercial insurance brokerage firms want the federal Terrorism Risk Insurance Act extended when it expires at the end of 2005, even though interest in the product is low among buyers, an association survey revealed.
The Washington-based Council of Insurance Agents & Brokers reported that of the 126 survey respondents, half said that fewer than 20 percent of their clients are buying the federally backed terrorism coverage. Brokers attributed the low interest to the coverage's high cost and clients' belief they are not likely to be targets of terrorism.
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