Question

Federal Terrorism Reinsurance Coverage (TRIA)

	A.	is subject to periodic renewal by Congress.
	B.	provides government reinsurance to limit insurers' losses from terrorist acts.
	C.	was initially established in response to the impact of 9/11 on insurance availability.
	D.	All of the above.

Answer 1

Answer : D (All of the above)

Federal terrorism Reinsurance Coverage was passed to

- to provide government reinsurance to limit insurers' losses from terrorist acts as such acts involve huge amounts which is difficult for the insurance companies to cover

- TRIA is subjec to periodic renewal by Congress and

- it was established in response to the impact of terrorism act in 9/11 as the terrorism attack involved huge losses and insurance companies were also affected to great extent.