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The Terrorism Risk Insurance Act (TRIA – https://lnkd.in/e4SwS8G) is coming up for renewal at the House Committee on Financial Services.
Recent amendments have asked for a report to analyse the overall vulnerabilities and the potential costs of cyber-attacks to U.S. infrastructure, whether “cyber liability under a property and casualty line of insurance is adequate coverage for an act of cyber terrorism,†whether cyber risks can be adequately priced, and whether the risk-sharing mechanism under TRIA is appropriate for a cyber terrorism event; and set out recommendation on how Congress could amend the act to “meet the next generation of cyber threats,â€Â
The amendment maybe a bit late, with a move to clarify cyber insurance as a separate line of business.
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