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FIO Releases Guidance & Request for Comment Concerning TRIP

On February 4, 2015, the Federal Insurance Office, which helps to administer the Terrorism Risk Insurance Program on behalf of the Department of Treasury, released interim guidance intended to address ambiguities regarding application of certain program regulations following enactment of the Terrorism Risk Insurance Program Reauthorization Act of 2015...
February 11, 2015

On February 4, 2015, the Federal Insurance Office (FIO), which helps to administer the Terrorism Risk Insurance Program (TRIP) on behalf of the Department of Treasury, released interim guidance intended to address ambiguities regarding application of certain program regulations following enactment of the Terrorism Risk Insurance Program Reauthorization Act of 2015. A summary of the guidance prepared by PIA is available here: www.pianet.com/docs/2015/TRIAInterimGuidanceSummary.pdf.

On the same day, the FIO also released a request for comment regarding improving the process for certifying an act of terrorism. An act of terrorism must be certified by the federal government for TRIP to be implicated. PIA members who may wish to comment should contact Jennifer Webb, PIA National counsel & director of regulatory affairs, at jennwe@pianet.org.

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