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Tuesday, August 27, 2013

NAIC Passes Resolution Supporting TRIA Reauthorization

During its Summer National Meeting in Indianapolis, the National Association of Insurance Commissioners (NAIC) passed a resolution supporting the reauthorization of the Terrorism Risk Insurance Act (TRIA), which is set to expire in December 2014.

“We strongly urge members of Congress to reauthorize this critical piece of legislation,” said NAIC President-Elect and North Dakota Insurance Commissioner Adam Hamm. “In addition to providing essential coverage for commercial policyholders, this federal backstop remains an invaluable part of the industry’s ability to preserve its financial protection and maintain risk management.”

Read NAIC's press release.

Read the resolution.