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5 Crucial TRIA Questions and Experts' Responses

An insurance broker recently wrote to PC360 with questions about the Terrorism Risk Insurance Act, concerned that the program essentially benefits a few at the expense of the many. We turn to two industry experts for responses, and add some basic information about the program's structure.

By Phil Gusman | Updated on June 13, 2014

An insurance broker recently wrote to PC360 with questions about the Terrorism Risk Insurance Act, concerned that the program essentially benefits a few at the expense of many. He contends average business owners would never see a benefit from TRIA, and wonders who is making money off of the program.

The reader’s questions come as debate heats up over what legislation extending the program should look like (the current reauthorization of TRIA, enacted in 2007, expires on Dec. 31). Some members of Congress are looking to scale back the program and shift more risk to the private sector. Rep. Randy Neugebauer, R-Texas, for example, tells PC360 “TRIA was meant to be a temporary program.”

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