201910.30
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CIAT Supports the Committee on Financial Services’ Amendment to TRIA

The Coalition to Insure Against Terrorism (CIAT) submitted the following letter to Chairwoman Maxine Waters and Ranking Member Patrick McHenry: Dear Chairwoman Waters and Ranking Member McHenry: The Coalition to Insure Against Terrorism (“CIAT”) is proud to support the Committee substitute amendment to the Terrorism Risk Insurance Program Reauthorization Act of 2019 (H.R. 4634), and…

201909.19
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Extend the Terrorism Risk Insurance Program (TRIA)

In the wake of 9/11, insurers and their reinsurers began to exclude terrorism coverage from commercial policies because they could not adequately forecast loss exposure. Commercial lenders, however, required terrorism coverage and the result was an economic paralysis felt particularly in construction and development, leading to a job loss of approximately 300,000 according the White…

201808.09
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2018 Terrorism Risk Insurance Program Report

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 House of Representatives, and the Committee on Banking, Housing, and Urban Affairs of the Senate. The 2015 Reauthorization Act also…

201607.01
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Department of the Treasury Report on the Overall Effectiveness of the Terrorism Risk Insurance Program

The Report analyzes data that was collected this year by Treasury concerning the participation of insurers in the Terrorism Risk Insurance Program (TRIP). The Report concludes that TRIP, which provides a federal backstop for certain U.S. property and casualty insurance losses resulting from a certified act of terrorism, is an important mechanism in ensuring that terrorism risk insurance remains available and generally affordable in the United States.

201605.31
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2015 TRIA Reauthorization Proposed Rules Comments

CIAT is pleased to have the opportunity to comment in response to FIO’s NPRM. As the principal commercial buyers of terrorism insurance, CIAT members were instrumental in the development and enactment of the Terrorism Risk Insurance Act (“TRIA”), and remain the true consumer voice on the TRIA program. CIAT continues to believe that the TRIA program has been, and remains, extremely effective, and as a result we were actively engaged as the latest reauthorization legislation made its way through Congress in 2014-2015.

201604.30
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Comparison of Selected Terrorisn Risk Insurance Programs in the United States and Foreign Countries

The Terrorism Risk Insurance Program Reauthorization Act of 2015 includes a provision for GAO to review how other countries have structured and funded their terrorism risk insurance programs. This report compares the structures of and the role of government in selected foreign terrorism insurance programs and examines the loss-sharing arrangements between the government and private sector.