Budget proposal introduces uncertainty for commercial p&c market

A US government move to progressively scale back the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA 2007) could have a negative impact on the commercial property/casualty insurance market, according to insurance intermediary Aon • TARP approval for life insurers viewed as positive by Fitch

TRIPRA 2007 was an extension of the Terrorism Risk Insurance Acts of 2002 and 2005. Currently, TRIPRA provides a $100bn terrorism reinsurance backstop for the commercial property/casualty industry.