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This Week's Most Popular

Will the Shield Protecting Terrorism Insurers Be Lifted?

Published Saturday, May 01, 2004

With the Terrorism Risk Insurance Act (TRIA) set to expire by the end of 2005, real estate lenders and owners are voicing their concern that if the federal backstop isn't extended, primary insurers could drop terror coverage entirely, or raise their premiums to incredibly high levels. Some critical dates are looming. Treasury Secretary John Snow has until Sept. 1, 2004, to extend TRIA's “make available” provision for a one-year period. This important measure underpinning TRIA demands that insurers offer terror coverage to their property and casualty policyholders. The federal backstop, however, doesn't officially expire until Dec. 31, 2005, ...

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