202006.11
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CIAT Files Comments on the Effectiveness of the Terrorism Risk Insurance Program

Download the full letter here. June 11, 2020 Federal Insurance OfficeATTN: Richard Ifft, Room 1410 MTU.S. Department of the Treasury1500 Pennsylvania Avenue NWWashington, DC 20220 RE: 2020 Report on the Effectiveness of the Terrorism Risk Insurance Program Dear Mr. Ifft: The Coalition to Insure Against Terrorism (“CIAT”) files these comments in response to the Request…

202004.27
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GAO Terrorism Report: State of Terrorism Risk Insurance and Update on Treasury’s Program Processes

The U.S. Government Accountability Office recently released a report  that found that under the Terrorism Risk Insurance Act (TRIA), Treasury has processes for certifying terrorist events and fulfilling claims under the program, but a lack of communication about aspects of Treasury’s certification process could pose challenges for insurers. TRIA was reauthorized through 2027 at the…

202004.27
0

GAO Terrorism Report: Program Changes Have Reduced Federal Fiscal Exposure

The U.S. Government Accountability Office recently released a report demonstrating that the Terrorism Risk Insurance Act (TRIA) reauthorizations through 2015 have decreased federal fiscal exposure, and insurers have adjusted by managing their increased risk. In December 2019, Congress reauthorized TRIA through 2027. Read the full report. After the Sept. 11 attacks, insurers generally stopped covering…

201912.23
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President Trump Signs Legislation to Reauthorize TRIA Through 2027

Late on Friday, Dec. 20, President Trump signed a major appropriations measure, the Further Consolidated Appropriations Act, 2020, or H.R. 1865, to fund the Federal Government through Fiscal Year 2020. Included in this legislation was the “Terrorism Risk Insurance Program Reauthorization Act of 2019” that reauthorizes the Terrorism Risk Insurance Act (TRIA) for an additional…

201912.19
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CIAT Commends Congress for Passing TRIA Extension: President Trump Expected to Sign Bill

Coalition Says Legislation Is Needed to Protect U.S. Jobs and Economy WASHINGTON, DC, DEC. 19, 2019—The Coalition to Insure Against Terrorism (CIAT), which represents the insurance policyholder community throughout the transportation, real estate, manufacturing, construction, entertainment, education, retail, and other sectors, praises Congress for its bipartisan reauthorization of the Terrorism Risk Insurance Act (TRIA) for…

201912.17
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CIAT Joins Other Trade Groups to Urge Senate Passage of TRIA Reauthorization

Download the full letter here. Dear Majority Leader McConnell and Democratic Leader Schumer: The undersigned organizations, representing a wide variety of business interests, strongly support S. 2877, the Terrorism Risk Insurance Program Reauthorization Act of 2019, and urge the Senate to act on this legislation as soon as possible. S. 2877 is a bipartisan compromise…

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
0

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…