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NAIC to Issue Draft of PATRIOT ACT Regulations Shortly
At an Executive Committee Meeting of the NAIC's PATRIOT ACT Task Force held during the 2003 fall NAIC meeting, the Task Force announced that it...
The Terrorism Risk Insurance Act: What Agents Need to be Aware of in 2004
As year one of the federal Terrorism Risk Insurance Act (TRIA) draws to a close, now is a good time to reflect upon the...
Treasury Announces TRIA Regulations; PIA Analysis
On October 10, the U.S. Treasury Department announced two final regulations under the Terrorism Risk Insurance Act of 2002, which was signed into law by...
PIA Meets With Feds Regarding Agencies Owned by Banks
PIA has received several inquiries, particularly from affiliates in the Midwest, regarding efforts by banks to require bank-owned insurance agencies to obtain ...
Treasury Conducts Survey on TRIA and Market Capacity
The U.S. Treasury Department has begun conducting a survey designed to measure the capacity of the market to provide terrorism insurance once the Terrorism ...
Treasury Official Says Let TRIA Expire
As the nation moves to a heightened level of alert against potential terrorist attacks, a Treasury Department official says the Terrorism Risk Insurance Act ...
PIA Files Comments on Terrorism Risk Insurance Act
PIA has filed comments with the U.S. Treasury Department on the latest proposed set of rules addressing claims procedures under the Terrorism Risk Insurance ...
Survey of CEOs Shows Concern About Terrorism Falls
A survey of 1,400 risk analysts, chief executives and economists conducted by PricewaterhouseCoopers ranked over-regulation, increased competition, currency ...
Future of TRIA has Real Market Impacts
As a result of the tragedies of September 11, the insurance sector was finally able to secure a federal backing to support insurer payouts...
PIA Participates in CEO Roundtable on TRIA Renewal
On February 20, PIA attended a meeting of the Insurance CEO Roundtable's discussion on renewal of the Terrorism Risk Insurance Act (TRIA). PIA's views were...
Terrorism Risk Pool in Spain Expected to Absorb Most of Madrid Bombing Losses
A government-mandated terrorism risk insurance pool will absorb much of the losses from last week's terrorist bombings in Madrid, Spain, according to ...
NAIC Urges Congress to Renew TRIA This Year
Key members of the National Association of Insurance Commissioners (NAIC) are urging Congressional leaders to act this year on a federal solution that will ...
Study Says Terror Backstop Essential to Workers Comp
Workers compensation insurers need the federal terrorism insurance backstop to continue, according to a new study prepared by Tillinghast Towers Perrin. The ...
PIA National Lauds Oxley, Baker, Kelly for Letter Urging Extension of TRIA Provision
WASHINGTON, April 23, 2004 - The National Association of Professional Insurance Agents (PIA) today lauded the leaders and members of the House Financial ...
Moody's Says Prices for Terrorism Insurance in NYC Down, Availability Improves
An informal survey of large insurance brokers doing business in Manhattan by Moody's Investors Services shows premiums for terrorism insurance are averaging 10 ...
GAO Issues Report on TRIA
The General Accounting Office (GAO) has issued a report on the implementation of the Terrorism Risk Insurance Act of 2002 (TRIA). It assesses the ...
PIA Encouraged by TRIA Hearing
The issue of extending the Terrorism Risk Insurance Act (TRIA) was discussed last week in a joint subcommittee hearing in the House. PIA attended the...
Senate Holds Hearing on TRIA
The U.S. Senate Committee on Banking, Housing, and Urban Affairs is holding a hearing today (5/18/04) on oversight of the Terrorism Risk Insurance Act ...
Insurers Urge Senate Panel to Extend Terrorism Insurance Program Key to National Economic Security
WASHINGTON, D.C., May 18, 2004 - Congress should act this year to extend the Terrorism Risk Insurance Act (TRIA) for two years beyond...
Insurers Ask the Treasury to Back Extension of TRIA
WASHINGTON, D.C., June 3, 2004 - The Treasury Department should immediately urge Congress to extend the Terrorism Risk Insurance Act (TRIA) for at...
PIA, Coalition File Comments With Treasury, Urge Congress to Renew TRIA
PIA together with a coalition of insurance industry groups filed written comments on June 3 with the U.S. Treasury Department, calling for a two-year ...
Insurer Coalition Commends NAIC Adoption of TRIA Resolution
SAN FRANCISCO, June 14, 2004 - A broad-based coalition of property-casualty insurance company, insurance producer and reinsurance trade associations commended ...
PIA Commends U.S. Treasury for Extending TRIA Provision, Says Congress Must Now Extend the Terrorism Act
WASHINGTON, June 21, 2004 - The National Association of Professional Insurance Agents (PIA) today praised the decision by the U.S. Treasury Department to...
TRIA a Hot Topic at the NAIC Summer Meeting
Facing the potential expiration of the Terrorism Risk Insurance Act (TRIA) if Congress does not extend it, the insurance industry continues to fight for an...
NAIC Calls for Two-Year TRIA Extension
The National Association of Insurance Commissioners (NAIC) issued a press release commenting on its endorsement of a resolution passed at their summer national ...
TRIA Extension Introduced in House
Reps. Richard Baker (R-Louisiana), Chairman of the House Financial Services Committee's Insurance Subcommittee, Sue Kelly (R-New York), who chairs the ...
PIA and Coalition Partners Send TRIA Letter to Oxley
PIA together with a coalition of insurance associations working to convince Congress to extend the Terrorism Risk Insurance Act (TRIA) has sent a letter to...
House Democrats Introduce Their Own Version of TRIA Renewal
Democrats in the U.S. House of Representatives have introduced their own version of terrorism insurance legislation, which would extend the current federal ...
NCOIL Passes TRIA Extension Resolution
The National Conference of Insurance Legislators (NCOIL) has adopted a resolution urging Congress to extend the Terrorism Risk Insurance Act (TRIA). The law is ...
Terrorism Risk Insurance Act Helps Maintain Business as Usual
Terrorism will remain a staple of the presidential election campaigns. Politics aside, we must not overlook an important mechanism that has allowed the ...