In recent months multiple studies have concluded that there is a continuing need for the terrorism insurance program TRIA, which provides a federal backstop in the event of a major terrorist attack. There are also several bills in the House that would reauthorize TRIA before it expires on December 31, 2014. However, there is still resistance in Congress to extending the program.
ABIA is participating in meetings with members of the House Financial Services Committee (HFSC)that the Coalition to Insure Against Terrorism (CIAT) organized in order to urge Congress to reauthorize TRIA and prevent market disruption. During these educational meetings the history and operational details of TRIA are discussed. As these meetings progress, ABIA will continue to provide updates.
Learn more about the TRIA Bills: H.R. 508, H.R. 1945, H.R. 2146.
Learn more about CIAT.
The ABIA is sending a comment letter to the US President’s Working Group on Financial Markets in support of TRIA reauthorization, which is due September 16, 2013. If you would like to learn more about ABIA's support of TRIA or help our efforts to ensure TRIA is extended, please contact us to join the ABIA's TRIA Task Force.