NAIC is lauded by insurer groups for backing TRIA extension

Insurer groups praised the National Association of Insurance Commissioners for approving a resolution that urges Congress to reauthorize the Terrorism Risk Insurance Act. PCI's Robert Gordon said the industry must get ready for the challenges likely to surround TRIA's possible renewal. "[A]s the business community begins to negotiate 2014 insurance contracts with coverage periods that will extend into 2015, we believe it is important for the property and casualty industry and regulators to consider the many questions that will arise leading up to TRIA's possible expiration or extension," Gordon said in a statement.

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