WASHINGTON, DC, Nov. 20, 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, strongly supports the Terrorism Risk Insurance Program Reauthorization Act of 2019, S. 2877 as it was unanimously adopted today by the Senate Committee on Banking, Housing, and Urban Affairs, and encourages passage of the legislation when it comes before the full Senate.
CIAT Steering Committee Coordinator Martin DePoy said that the Terrorism Risk Insurance Act (TRIA) was instrumental in keeping the U.S. economy functioning and securing countless jobs in the aftermath of the 9/11 terrorist attacks. “Many American businesses rely on the availability of the comprehensive terrorism risk insurance, and TRIA is essential in making it accessible at prices commercial policyholders can afford.”
“We commend Sens. Thom Tillis (R-NC) and Tina Smith (D-MN) for introducing the bill, and Senate Banking, Housing, and Urban Affairs Committee Chairman Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH) for their bi-partisan leadership in moving this important legislation forward. CIAT looks forward to seeing the same bi-partisan support for TRIA’s reauthorization from the full Senate,” said DePoy.