State lawmakers urge Congress to extend TRIA without delay
"Extending TRIA is of vital importance to the United States economy," said Rep. Charles Curtiss, D-Tenn. "All states are at risk of a terrorist attack. TRIA's extension is an important step in protecting America."
Curtiss commented as the Executive Committee of the National Coalition of Insurance Legislators adopted a resolution urging Congress to continue the Terrorism Risk Insurance Act beyond its December 2014 expiration date. The issue is particularly pertinent to the workers' comp system since insurers cannot exclude terrorism coverage.
The resolution acknowledges that attacks from chemical or radiological weapons are a possibility, resulting in a large number of casualties. It says such a scenario might require the federal government to cover losses.
"If TRIA expires, commercial consumers might be unable to afford necessary insurance," said Rep. Michael Stinziano, D-Ohio, the resolution's sponsor. "I hope that Congress will act as soon as possible to extend TRIA and guarantee the widespread availability of terrorism insurance coverage to our citizens."
By Nancy Grover
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August 30, 2013
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