The Terrorism Risk Insurance Program Essay
During the calendar year beginning on January 1, 2016, and in each calendar year thereafter, the Secretary shall require insurers participating in the Program to submit to the Secretary such information regarding insurance coverage for terrorism losses of such insurers as the Secretary considers appropriate to analyze the effectiveness of the Program, which shall include information regarding--
(A) lines of insurance with exposure to such losses;
(B) premiums earned on such coverage;
(C) geographical location of exposures;
(D) pricing of such coverage;
(E) the take-up rate for such coverage;
(F) the amount of private reinsurance for acts of terrorism purchased; and
(G) such other matters as the Secretary considers appropriate.
TRIA § 104(h).
Notwithstanding the language of TRIA § 104(h), the Treasury determined that:
In order to avoid inadvertently imposing an unanticipated level of burden on participating insurers without due consideration, Treasury is requesting, and not requiring, that participating insurers submit the data enumerated in the section 111 data…