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It is imperative that Congress reauthorize the Terrorism Risk Insurance Act (TRIA) now. With this critical program set to expire on December 31, members of Congress have just a few short weeks to ensure TRIA's longevity for the long term. Congress has twice reauthorized TRIA and it must do so again - on a multi-year basis - before time runs out.

Enacted in the wake of 9/11, TRIA has provided stability to the economy since 2002. Following the attacks, reinsurers and primary insurers - after paying out more than $30 billion in claims - withdrew from the terrorism risk insurance marketplace. The absence of coverage contributed to massive job losses and billions of dollars in damage to industries dependent upon the availability of terrorism risk coverage. TRIA allowed businesses to once again purchase insurance while protecting the economy against highly unpredictable, catastrophic terrorist attacks.

The consequences of inaction by Congress on TRIA reauthorization are too great. If Congress fails to act, US businesses will be left vulnerable to devastating losses and may put off making new investments, hiring more employees and exploring other opportunities for growth. Simply put, our economy cannot afford for Congress to wait any longer.

President Barack Obama and congressional leaders on both sides of the aisle have said TRIA is a must-pass item this year. Congress must step up and reauthorize TRIA on a multi-year basis to protect America's economic and national security.


Latest Updates

November 26, 2014: [Video] Host Hotels CEO talks insurance against terror on CNBC

November 20, 2014: Economic Experts, Policymakers and Business Leaders Rally in Support of TRIA Extension

November 19, 2014: CIAT Leaders Storm Capitol Hill to Urge Immediate TRIA Reauthorization

November 12, 2014: TRIA Renewal Critical to US Economy

November 12, 2014: Opinion: Renew the Terrorism Risk Insurance Act

November 6, 2014: AH&LA, 80+ Hotel Organizations Call on House Leadership to Pass TRIA Now

October 28, 2014: CIAT applauds former Defense Secretary Gates for urging TRIA reauthorization.

October 9, 2014: Reauthorize TRIA Now: A One-Year Extension Would Further Threaten our Economy

September 11, 2014: CIAT: Changing Terrorism Threats Highlight Need for TRIA Reauthorization

September 10, 2014: CIAT urges Congress to complete TRIA reauthorization.

September 8, 2014: More than 400 businesses and industry organizations signed a letter urging Members of the House of Representatives to swiftly reauthorize TRIA.

May 7, 2014: The RAND Corporation Releases a Study That Confirms the Terrorism Risk Insurance Act Ensures the Availability of Workers' Compensation Coverage.

April 24, 2014: Higher Education Letter on TRIA Reauthorization.

April 22, 2014: Marsh & McLennan study calls for reauthorization of TRIA.

April 17, 2014: President's Working Group study supports TRIA renewal.

April 16, 2014: National League of Cities Letter.

April 10, 2014: S. 2244, "Terrorism Risk Insurance Program Reauthorization Act of 2014," Introduced to extend TRIA:
- CIAT Applauds Senate Efforts to Extend TRIA
- Senator Schumer Press Release
- Senator Heller Press Release

April 10, 2014: A New RAND Corporation Study Released Today Confirms that TRIA Can Save U.S. Taxypayers Billions of Dollars in the Event of a Large-Scale Terrorist Attack

April 10, 2014: Multi-industry letter to Congress urging TRIA reauthorization - Contains names of 266 businesses, associations and other organizations

March 28, 2014: Congressional Research Service: Issue Analysis and Overview of Current Program

March 6, 2014: RAND Corporation releases study showing renewal of TRIA would contribute to improved national security and economic resilience against terror attacks

February 25, 2014: W. Edward Walter, Host Hotels & Resorts's President, CEO and Director, Testifies Before the Senate Banking, Housing and Urban Affairs Committee Regarding Reauthorizing TRIA

February 24, 2014: U.S. Chamber of Commerce Expresses Support for TRIA Reauthorization in Letter to Senate Banking Committee Chairman Johnson and Ranking Member Crapo

February 10, 2014: Important update from Marsh regarding workers' compensation coverage as uncertainty mounts over the future of the Terrorism Risk Insurance Program Reauthorization Act(TRIPRA)

January 15, 2014: CIAT expresses appreciation to Congresswoman Waters for panel discussion on reauthorizing TRIA

January 7, 2014: Senate Banking Committee Chair and Ranking Member respond to Senators Kirk and Heller's letter on extending TRIA when Congress reconvenes

News Archive


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