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TRIA Claims Procedure Rules

PIA continues to work with other insurance trades in our review and comments to Treasury on the latest proposed set of rules addressing claims procedures...
January 30, 2003

PIA continues to work with other insurance trades in our review and comments to Treasury on the latest proposed set of rules addressing claims procedures under the Terrorism Risk Insurance Act (TRIA). PIA is signing onto an industry letter speaking to the refinements and clarifications needed in the rule for residual markets. PIA is filing our own comments and seeking clarifications in several areas that could directly affect insurance producers.

Further, PIA has advised the insurance sector's TRIA and Standard Fire Policy (SFP) working groups that we believe continuation and refinement of TRIA is necessary at this time to avoid introducing another significant destabilizing factor into the P&C marketplace.

PIA has requested a full copy of Under Secretary's Wayne Abernathy's comments before the Consumer Federation of America, calling for help in assuring that TRIA be sunsetted on schedule.

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