Page:United States Statutes at Large Volume 121.djvu/1863

 121 STAT. 1842

PUBLIC LAW 110–160—DEC. 26, 2007

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‘‘(f) INSURANCE FOR NUCLEAR, BIOLOGICAL, CHEMICAL, AND RADIOLOGICAL TERRORIST EVENTS.— ‘‘(1) STUDY.—The Comptroller General of the United States shall examine— ‘‘(A) the availability and affordability of insurance coverage for losses caused by terrorist attacks involving nuclear, biological, chemical, or radiological materials; ‘‘(B) the outlook for such coverage in the future; and ‘‘(C) the capacity of private insurers and State workers compensation funds to manage risk associated with nuclear, biological, chemical, and radiological terrorist events. ‘‘(2) REPORT.—Not later than 1 year after the date of enactment of the Terrorism Risk Insurance Program Reauthorization Act of 2007, the Comptroller General shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report containing a detailed statement of the findings under paragraph (1), and recommendations for any legislative, regulatory, administrative, or other actions at the Federal, State, or local levels that the Comptroller General considers appropriate to expand the availability and affordability of insurance for nuclear, biological, chemical, or radiological terrorist events.’’. (b) STUDY AND REPORT ON AVAILABILITY AND AFFORDABILITY OF TERRORISM INSURANCE IN SPECIFIC MARKETS.—Section 108 of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by adding at the end the following: ‘‘(g) AVAILABILITY AND AFFORDABILITY OF TERRORISM INSURANCE IN SPECIFIC MARKETS.— ‘‘(1) STUDY.—The Comptroller General of the United States shall conduct a study to determine whether there are specific markets in the United States where there are unique capacity constraints on the amount of terrorism risk insurance available. ‘‘(2) ELEMENTS OF STUDY.—The study required by paragraph (1) shall contain— ‘‘(A) an analysis of both insurance and reinsurance capacity in specific markets, including pricing and coverage limits in existing policies; ‘‘(B) an assessment of the factors contributing to any capacity constraints that are identified; and ‘‘(C) recommendations for addressing those capacity constraints. ‘‘(3) REPORT.—Not later than 180 days after the date of enactment of the Terrorism Risk Insurance Program Reauthorization Act of 2007, the Comptroller General shall submit a report on the study required by paragraph (1) to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives.’’. (c) ONGOING REPORTS.—Section 108(e) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended— (1) in paragraph (1)— (A) by inserting ‘‘ongoing’’ before ‘‘analysis’’; and (B) by striking ‘‘, including’’ and all that follows through the end of the paragraph, and inserting a period; and

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