United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2004-04-23 monographic deposited born digital 39 p. GA 1.13:GAO-04-307 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-04-307 P0b002ee180373320 f:d04307 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-04-307 machine generated eng fdlp REPORT GAOREPORTS-GAO-04-307 GAO-04-307 Insurance Insurance claims National preparedness Terrorism Insurance regulation Treasury Terrorism Risk Insurance Program Other Written Product A09875

After the terrorist attacks of September 11, 2001, insurance coverage for terrorism largely disappeared. Congress passed the Terrorism Risk Insurance Act (TRIA) in 2002 to help commercial property-casualty policyholders obtain terrorism insurance and give the insurance industry time to develop mechanisms to provide such insurance after the act expires on December 31, 2005. Under TRIA, the Department of Treasury caps insurer liability and would process claims and reimburse insurers for a large share of losses from terrorist acts that Treasury certified as meeting certain criteria. As Treasury and industry participants have operated under TRIA for more than a year, GAO was asked to describe (1) their progress in implementing the act and (2) changes in the terrorism insurance market under TRIA. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-04-307/html/GAOREPORTS-GAO-04-307.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-04-307/pdf/GAOREPORTS-GAO-04-307.pdf GAO-04-307 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-04-307 Other Written Product GAO-04-307; Terrorism Insurance: Implementation of the Terrorism Risk Insurance Act of 2002; Insurance Insurance claims National preparedness Terrorism Insurance regulation Treasury Terrorism Risk Insurance Program Title 5 Section 601et seq. 5 U.S.C. 601et seq. Title 44 Section 3501 44 U.S.C. 3501