The Chase Sensale Group Logo

Terrorism Response

State:  NY

PCI Applauds State Lawmakers for Urging TRIA Extension:

The Property Casualty Insurers Association of America is applauding the New York State Assembly's passage of a resolution urging the state's Congressional delegation to act as quickly as possible to extend the Terrorism Risk Insurance Act through Dec. 31, 2019.

PCI said the New York City Council is expected to pass a similar resolution.

"Reauthorization of TRIA is a high priority for New York legislators at all levels of government and we join with them in calling for action at the Congressional level," Kristina Baldwin, vice president for PCI, said in a news release.

"New Yorkers have a keen appreciation for the importance of this issue and the role TRIA plays in providing economic stability after an event. It creates a plan to help ensure important projects which provide jobs and can continue to move forward with appropriate and adequate insurance coverage," she said.

In February, a bipartisan group of members of the New York delegation serving in the U.S. House of Representatives introduced the TRIA Reauthorization Act of 2013, which would extend the federal back-stop program.

Resolution K 611 was passed by the Assembly on Thursday and calls on the delegation to act as soon as possible to extend the Terrorism Risk Insurance Act of 2002.

The resolution is here.

Source: WorkCompCentral

Back to news >>>