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The Terrorism Risk Insurance Program is critical to keeping our economy healthy.

“Should TRIPRA expire without a replacement, insurers with the ability to do so will likely deploy terrorism capacity only for preferred locations and pricing. Reinsurers are also likely to only provide additional capacity at notably higher rates, which could create capacity shortfalls for some central business districts and employers with significant workers’ compensation accumulations. As such, a federal backstop remains...

Lack of terrorism insurance coverage could lead to defaults on existing loans and a downturn in future lending, causing economic ripple effects as buildings are not built and construction workers remain idle.

[TRIA] has made terrorism risk insurance available and affordable in the United States, and the market for terrorism risk insurance has been relatively stable for the past decade.

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.

The level of importance of this legislation to our state cannot be understated. It protects jobs, promotes the Silver State, and keeps families working.

The Terrorism Risk Insurance Act has provided Las Vegas and cities across our nation financial security for years. This program is an absolute necessity in order to allow American cities to continue to build and expand their infrastructure. The Terrorism Risk Insurance Act has my full support.