Friday, October 5th, 2001 — The National Association of Independent Insurers (NAII) offered a proposal to address risks related to terrorism and other catastrophic losses in the wake of the World Trade Center disaster.
In addition, the Association staff will work with other industry trade groups to find "common ground" among the various proposals being developed for consideration by Congress this month.
The NAII contends that any congressional initiative should be simple, temporary in nature (until longer-range solutions can be studied more carefully), broad enough to address all non-insurable catastrophic events, and without cross-subsidies among insurers or product lines.