Today’s issue of WorkCompRecap features the AIA’s upcoming presentation at the National Association of Insurance Commissioners’ (NAIC) 2013 Fall National Meeting, where they will emphasize the importance of renewing the Terrorism Risk Insurance Act (TRIA) to the Workers’ Comp marketplace.
AIA Senior VP and General Counsel J. Stephen Zielezienski will be presenting, and noted that combining the nature of Workers’ Compensation coverage with the extreme losses from catastrophic terrorism would make risk difficult to manage without assistance from TRIA. He also pointed out that without TRIA, losses paid for by insurers via reinsurance of residual markets could end up stressing private markets and create economic uncertainty.
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