Dr. Hartwig on TRIA

During the Joint Industry Forum in New York, World Risk and insurance News (WRIN.tv) asked industry leaders to react to the renewal of the Terror Risk and Insurance Act (TRIA).  Here, we have commentary from Insurance Information Institute (III) President Bob Hartwig, NAMIC President and CEO Chuck Chamness, American Insurance Association  (AIA) President & CEO Leigh Ann Pusey, Reinsurance Association of America (RAA) President  Frank Nutter, and Deloitte’s Chief Advisor on the Insurance Industry Howard Mills.

Information Institute (III) President Bob Hartwig comments on the passage of TRIPRA, which reauthorizes Terror Risk and Insurance Act (TRIA). While TRIA provides for a public-private partnership through 2020, Mr. Hartwig thinks it is unfortunate that the U.S. does not have a more permanent structure like ones in France or the UK.

The insurance industry will be “shouldering the vast majority of the loss for terror attacks that are likely to occur.” He does expect the program to perform “admirably”, as it has over the past 12 years.

The full set of interviews can be found here.  For more information on the Joint Industry Forum, visit the WRIN.tv On Demand Library or the Insurance Information Institute website.

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