*Letters

SIA and TBMA Submit Comments to the Chairman of the US Senate Banking Committee on Terrorism Insurance

Published on:
June 23, 2005

The Securities Industry Association (SIA)* and The Bond Market Association (TBMA)*provide comments toU.S. Senate Banking, Housing and Urban Affairs Committee Chairman Richard Shelby (R-Ala.) expressing support for a terrorism insurance program. The Terrorism Risk Insurance Act (TRIA)is set to expire at the end of 2005. The associations believe the extension of TRIA would ensure that American businesses and property owners are able to secure sufficient and affordable terrorism insurance, since there is no evidence to support the notion the current insurance market would be able to provide coverage against future catastrophic acts of terrorism.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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