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Wednesday, August 7, 2013

RIMS Report Highlights Continued Need for TRIA

RIMS, the Risk Management Society, has published a report that outlines the importance of TRIA reauthorization to protect businesses from the effects of terrorism. ABIA has been a vocal advocate for TRIA reauthorization and this report underscores the program's continuing importance.

"The challenge of predicting the extent of damages that could result from terrorism prevents insurers from providing their clients with adequate and affordable insurance.  This uncertainty has forced organizations to rely on TRIA to fulfill those coverage gaps," said RIMS Board Director Carolyn Snow. "With no indication from government as to their plans for the future of TRIA, risk professionals and insurance providers will run into major roadblocks when developing suitable risk financing programs, especially during the renewal process." 

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 Working Group.

Learn more from RIMS.