There is bipartisan support on Capitol Hill for U.S. Secretary of the Treasury John Snow to extend the "make available" provision of the Terrorism Risk Insurance Act (TRIA). The Department of the Treasury is accepting comments on the provision through June 4.

The make available provision, set to expire Dec. 31, 2004, requires all commercial property and casualty insurers who write polices for commercial properties to offer terrorism insurance policies on a par with those for other catastrophic events. "Having the entire industry offering [terrorism insurance] has significantly lowered the price," said Gail Davis Cardwell, senior vice president, commercial and multifamily group with the Mortgage Bankers Association.

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