Support for Tria extension grows in wake of Katrina

OHN DEARIE (left) and BRIAN GREEN of law firm Edwards & Angell consider the future of the federal backstop for terrorism in the US

WITH the US Terrorism Risk Insurance Act of 2002 (Tria) due to expire at year-end, the insurance industry is patiently waiting to see whether it will be extended, either in its present form or under different terms. Although hurricane Katrina has replaced Tria as US Congress’s chief agenda item in recent weeks, renewal of Tria remains a priority and should receive renewed attention in the closing stages of its fall agenda.