House Committee To Offer 2-Year Terrorism Insurance Extension Next Week
Monday, November 14th, 2005 CatastropheThe House Financial Service Committee has come up with what at least one group is calling a workable proposal to renew the federal terrorism insurance act for two years. The extension proposal creates silos for major coverage areas of workers compensation, property, casualty and NBCR with each silo being assigned its own deductible. The measure excludes commercial auto, which is now covered under TRIA, while proposing to add group life. Insurers would be required to offer NBCR coverage.
External References & Further Reading
http://www.insurancejournal.com/news/national/2005/11/11/61837.htm
