Besides renewal of the current Terrorism Risk Insurance ProgramReauthorization Act (TRIPRA), the insurance industry is askingCongress to expand and clarify the law to fill gaps incertification and coverage areas.

Duncan Ellis, Marsh's property practice leader, said yesterdayin an interview during a Washington appearance that the fact thatthe Obama administration has been silent, despite industryprodding, in saying whether the Boston bombing last year was aterrorist event points out a primary industry concern about thecurrent law. Philip Edmundson, co-founder of William GallagherAssociates, a Boston national brokerage firm, said in an interviewwith PC360, “It has been a year since the event, and yet theadministration has not clarified whether the Boston bombing was acertifiable event.” Under the law, the Secretary of State, theSecretary of the Treasury, and the Attorney General must jointlymake such a determination.

Edmundson said that as a result of the Boston bombing, he has“seen a continued increase in the number of small and medium-sizedbusinesses that are purchasing terrorism risk insurance. They arenow joining larger organizations in buying terrorism riskinsurance.” He noted the original Terrorism Risk Insurance Act(TRIA) was enacted in late 2002 at urging of large commercialproperties. “Now,” he said, “it seems concern about terrorism riskhas spread, and that is an important change—more and more businessrely upon the federal terrorism backstop for the security of theirbusinesses.”