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White House Eases Stand On TRIA Renewal

Washington--A Bush Administration recommendation, that insurers should bear more risk if the federal backstop provided by the Terrorism Risk Insurance Act is renewed, is ...

By Matt Brady | Updated on February 18, 2005

Washington–A Bush Administration recommendation, that insurers should bear more risk if the federal backstop provided by the Terrorism Risk Insurance Act is renewed, is open to negotiation Treasury Secretary John Snow told Congress today.

Mr. Snow’s remarks, an apparent softening of the White House initial stance, came in testimony before the House Financial Services Committee concerning the recommendations by his department in its June 30 report evaluating TRIA, which is due to sunset at year’s end.

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