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Terrorism market won't work without Tria: Aon
06 August 2010
Global insurance broker Aon has responded to the US President's Working Group on Financial Markets' request for comment on the long-term availability and affordability of terrorism risk insurance.
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Global insurance broker Aon has responded to the US President's Working Group on Financial Markets' request for comment on the long-term availability and affordability of terrorism risk insurance, reiterating the vital importance of a federal backstop or a viable substitute to protect individual companies as well as the global economy in the face of a catastrophic terrorist attack.
As a result of enacting the original Terrorism Risk Insurance Act of 2002 (Tria) and the most recent Terrorism Risk Insurance Program Reauthorization Act of 2007 (Tripra), global businesses with US exposures have experienced increased terrorism insurance capacity, inclusion of domestic acts of terrorism into the backstop, continued drop in terrorism coverage pricing and...
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