What Others Are Saying
"Treasury’s evaluation of the relevant data concerning the Program indicates, consistent with the views expressed by a large number of market participants, that TRIP has helped make terrorism risk insurance available and affordable in the United States, and that the market for terrorism risk insurance has been relatively stable for the past decade."
“…TRIA..supports vital Minnesota institutions because having access to affordable insurance for terrorism-related risks makes it possible for businesses to be able to grow and create jobs.”
December 16, 2019
"The Terrorism Risk Insurance Program is an important program that protects North Carolina’s economy and provides peace of mind to the private sector by providing insurance protections at no cost to taxpayers."
December 16, 2019
"The [Terrorism Risk Insurance Program Reauthorization Act of 2019] being considered today would not only avoid significant uncertainty in the marketplace, but it also preserves the taxpayer reforms included in the last reauthorization. Given the Program’s importance to our nation’s economy, regardless of region or state, and the broad bipartisan support in both the House and Senate, it makes sense for the [Senate] Banking Committee to consider the Program’s reauthorization now."
November 19, 2019
"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 essential if the private reinsurance market is to continue to provide capacity to higher-risk areas."
June 18, 2019
"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."
April 26, 2019
"As Governor of Florida, I support the long-term reauthorization of RIA. The Act increases the availability of property liability insurance for America’s businesses and the affordability of terrorism coverage for those enterprises."
March 25, 2014