The Coalition to Insure Against Terrorism (CIAT), which represents businesses and organizations throughout the transportation, real estate, manufacturing, construction, entertainment, education, and retail sectors, and 300 other organizations have signed a letter from the U.S. Chamber of Commerce urging members of Congress to reauthorize TRIA (the Terrorism Risk Insurance Act): The following statement may…
POLITICO’s Zachary Warmbrodt: “More than 340 companies and trade groups today will discourage Congress from tinkering too much with the federal terrorism insurance backstop that lawmakers enacted after the Sept. 11, 2001 attacks. The Walt Disney Company, NASCAR, Marriott International, the U.S. Chamber of Commerce and a slue of insurers are among the organizations that…
Dear Chairman Crapo and Ranking Member Brown: Thank you for holding this important hearing to examine the reauthorization of the Terrorism Risk Insurance Program (TRIP). The Coalition to Insure Against Terrorism (CIAT) is writing today to express its strong support for a long-term reauthorization of TRIP and to urge prompt Congressional action to renew this…
Marsh and McLennan Companies recently released their 2019 Terrorism Risk Insurance Report. Terrorism remains a dynamic global risk and a serious threat for people and organizations. The evolution of terrorism risk exposes many countries to complex threats from both international and home-grown groups, as well as individuals acting on their own, known as “lone wolves.”…
Prior to the September 11, 2001, terrorist attacks, coverage for losses from such attacks was normally included in general insurance policies without additional cost to the policyholders. Following the attacks, such coverage became expensive, if offered at all. Moreover, some observers feared that the absence of insurance against terrorism loss would have a wider economic…
The Honorable Gene L. Dodaro Comptroller General of the United States U.S. Government Accountability Office 441 G Street, NW, Room 7100 Washington, DC 20548 Dear Mr. Dodaro: The Terrorism Risk Insurance Act (TRIA) is set to expire on December 31, 2020, and its potential reauthorization will be considered by the 116th Congress. The Terrorism Risk…
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…
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 a broad coalition of commercial insurance consumers formed immediately after 9/11 to ensure that American businesses could obtain comprehensive and…
