WAMC New York News
Fri October 14, 2005
Insurance Companies Fear End of TRIA
By Deborah Runcie
Kingston, NY – In November 2002, President Bush signed into law the Terrorism Risk Insurance Act, known as TRIA, to provide insurance companies with coverage in the event of a terrorist attack.
The act, which is due to expire at the end of December, has many insurance companies concerned that they won't be able to cover the cost of claims in the event of an attack.
Opponents of the act say the insurance companies have more than enough money to pay out, and that they are just fearful of losing what they consider a free ride.
WAMC'S Hudson Valley Bureau Chief Deborah Runcie has more.