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Treasury Seeks Group Life Terror Comments

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The Bush administration is giving group life insurers a new chance to ask for government protection against losses resulting from huge terrorist attacks.

The President’s Working Group on Financial Markets, an arm of the U.S. Treasury Department, is issuing a notice asking group life insurers for comments about terrorism risk.

The notice also asks insurers of all kinds for comments about exposure to “chemical, nuclear, biological and radiological events.”

In the past, the Bush administration has lobbied vigorously against expanding government terrorism protection for insurers. The administration was required to issue the current notice by the Terrorism Risk Insurance Extension Act of 2005.

A copy of the notice is on the Web at Document Link