Terrorism insurance crucial to US financial health, says NY mayor


At a hearing at City Hall last month, local business leaders and political figures met to discuss the future of the Act, which was instituted to offer short-term protection to the insurance industry in the wake of 9/11. The law was passed in November 2002 and initially set to expire in December 2005, before it was given a two-year extension.

"Failure to extend the TRIA would itself be a disaster. It would certainly result in the destabilisation of the insurance industry and in all likelihood

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