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 2004-05-18 monographic deposited born digital 23 p. GA 1.13:GAO-04-806T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-04-806T P0b002ee18039f968 f:d04806t DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-04-806T machine generated eng fdlp REPORT GAOREPORTS-GAO-04-806T GAO-04-806T Insurance Insurance companies Terrorism Insurance regulation Property losses Prices and pricing National preparedness Economic analysis Property damage claims Treasury Terrorism Risk Insurance Program Testimony A10116 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 (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 assess Treasury's progress in implementing TRIA and describe how TRIA affected the terrorism insurance market. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-04-806T/html/GAOREPORTS-GAO-04-806T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-04-806T/pdf/GAOREPORTS-GAO-04-806T.pdf GAO-04-806T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-04-806T Testimony GAO-04-806T; Terrorism Insurance: Effects of the Terrorism Risk Insurance Act of 2002; Insurance Insurance companies Terrorism Insurance regulation Property losses Prices and pricing National preparedness Economic analysis Property damage claims Treasury Terrorism Risk Insurance Program