WASHINGTON–The American Insurance Association and the Coalition to Insure Against Terrorism said they have established a united front in support of extending the federal Terrorism Risk Insurance Extension Act.
Their announcement came in advance of tomorrow's hearing by a House Financial Services Subcommittee examining the legislation that provides a backstop for major insurer terrorism losses prior to its scheduled expiration at the end of the year.
“We believe that consensus between two major stakeholders in the debate over how to structure renewal of TRIEA represents an important step forward, which will hopefully inform the discussion among policymakers,” said Martin DePoy, coordinator of CIAT's steering committee.
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