Insurance associations are welcoming the Senate's introduction of a TRIA extension, but some industry officials are concerned about language in the bill.
The Property Casualty Insurers Association of America (PCI) and the National Association of Mutual Insurance Companies (NAMIC) are voicing concern about a provision in S. 2244 that would raise the deductible for insurers from a catastrophic attack by 33% for each company.
Moreover, Willis North America said in a statement that while the introduction of the bill is a "positive development," it doesn't lessen the disruption in the market because concern remains that the House won't act promptly to support the Senate bill.
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