ABIA Comments on Proposed TRIA Changes

In a comment letter to the Federal Insurance Office yesterday, the American Bankers Insurance Association called for FIO to reconsider its definition of “captive insurer” under a proposed rule to implement recent changes to the Terrorism Risk Insurance Act. The proposed rule differentiates “captive insurers” from “small insurers” for the purposes of the data collection requirements proposed in the rule. ABIA argued that this distinction is inappropriate, as it treats small captive insurers differently than other small insurers. For more information, contact ABA’s Sarah Ferman.


About Author

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.