Congress Eyes Insurance Legislation In 2007

Law360, New York (December 22, 2006, 12:00 AM EST) -- In the coming year, two areas of insurance reform will most likely hit the national stage: the Terrorism Risk Insurance Extension Act (TRIEA), which has been a hot topic since September 11, and an optional charter which would bring insurance companies under federal regulation.

TRIEA is the more pressing of the two, since the current legislation is set to expire on December 31, 2007. The regulation provides a backstop in the case of a significant terrorist attack, which property-casualty insurance companies cannot effectively insure their customers...
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