Industry Told TRIA Wont Be Renewed Until 2014

The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the issue on Capitol Hill.

If Congress agrees to extend the terrorism insurance backstop, known as TRIA, it will probably not do so until late next year when the program is scheduled to expire, said Leigh Ann Pusey, president and CEO of the insurer trade group, the American Insurance Association.

Read More: Industry Told TRIA Wont Be Renewed Until 2014.

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