The Treasury Department has issued interim guidance for the recently enacted two-year extension of the terrorism risk insurance program. President Bush signed the extension into law on December 22 (S. 467, Pub.L. 109-144), and the guidance was published in the January 5 Federal Register. Treasury said it will issue regulations to implement the new law, but the interim guidelines are intended to help insurers comply with provisions regarding make-available requirements, new program triggers, and revisions in covered lines of insurance. (For background, see Current Developments, Vol. 34, No. CD-1, p. 6.).
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