ISO continues to provide coverage and pricing tools to help insurers respond to the Terrorism Risk Insurance Act (TRIA). The federal Terrorism Risk Insurance Program (TRIP), a program established by TRIA, was scheduled to terminate at the end of December 31, 2005.
However, on December 22, 2005, the President signed compromise legislation extending TRIA for two years. For details, see Terrorism Risk Insurance Extension Act of 2005.
On December 18, 2007, Congress passed the Terrorism Risk Insurance Program Reauthorization Act of 2007. The President signed this bill on December 26, 2007. The TRIA Reauthorization Act extends the program through December 31, 2014, revises the definition of a certified act of terrorism, and makes other changes to the law.
...on ISO's response to the Terrorism Risk Insurance Act, watch this website. We will post frequent updates on our filings and regulatory action on them.