TRIA ensures US businesses can obtain the terrorism risk insurance coverage necessary to protect against the devastating consequences of a catastrophic terrorist attack.
In the wake of 9/11, more than 300,000 US jobs were lost due to the lack of terrorism risk insurance in the marketplace. TRIA ensures the long-term stability of commercial property financing, construction and other job-creating industries.
TRIA has cost US taxpayers virtually nothing. Insurers and policy holders are required to bear first dollar losses and meet deductibles before the federal government steps in.
Congress has reauthorized TRIA three times with overwhelming, bipartisan support, most recently in January 2015.
Under the Terrorism Risk Insurance Program Reauthorization Act of 2015, the Secretary of the Treasury is required to submit a report regarding the Terrorism Risk Insurance Program to the Committee on Financial Services of the...
The Coalition to Insure Against Terrorism (“CIAT”) files these comments in response to the request by the Federal Insurance Office (“FIO”) published in the March 16, 2018 Federal Register. 83 Fed. Reg. 11815. CIAT is...
As residents of the birthplace of the skyscraper, Chicagoans have the right to stand in the shadows of the tallest buildings in the world, and the passage of TRIA ensures that our skylines will no longer suffer due to the threat of terrorism.