Big “I” Comments on Terrorism Risk Insurance Report
Association agrees with many findings by President’s Working Group on the terrorism insurance marketplace.
WASHINGTON, D.C., April 17, 2014 — The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) today issued the following response to a report issued by President Barack Obama’s Working Group on the Long-Term Availability and Affordability of Insurance for Terrorism Risk. The comments are by Charles Symington, Big “I” senior vice president for external and government affairs.
“We commend the President’s Working Group for their report on the Terrorism Risk Insurance Act (TRIA), and agree with many of their findings. The Big ‘I’ believes that the TRIA program deserves an extension of some form in order to ensure the continued availability of terrorism coverage, and we look forward to working with the House Financial Services Committee and the Senate Banking Committee on their proposals.”
Founded in 1896, the Big “I” is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than a quarter of a million agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life, health, employee benefit plans and retirement products. Web address: www.independentagent.com.