OLDWICK, N.J.--(BUSINESS WIRE)--In this episode of A.M.BestTV, Bernie Heinze of American Association of Managing General Agents (AAMGA), Brady Kelley of National Association of Professional Surplus Lines Offices, Ltd. (NAPSLO) and Frank Nutter of the Reinsurance Association of American, along with other insurance industry executives, outline the differences in the House and Senate terrorism coverage bills and assess chances for timely resolution.
With the Senate having passed its version of the Terrorism Risk Insurance Act (TRIA), all eyes have now turned to the House’s version, which has yet to be brought to the House floor. Heinze is of the opinion that the House will pass its version prior to its August recess. However, Kelly and Nutter are not so optimistic. Both are of the viewpoint that presently, in the House, the votes for passage are not available. This presents quite a lot of uncertainty for insurers and reinsurers in being able to plan their rates for next year, according to Nutter. In fact, Kelly believes the House will not even address this bill until after the fall election.
Click here to view this episode. http://www.ambest.com/v.asp?v=tria714
In a separate interview, Heinze looks at the legislation creating a national registry of insurance producers, the National Association of Registered Agents and Brokers (NARAB II), which was included in the Senate’s TRIA extension. Watch the interview at http://www.ambest.com/v.asp?v=heinze714.
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