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Friday, September 19, 2014

TRIA Update: Take Action, Urge Passage of S.2244

Although Congress is back in session, TRIA’s reauthorization will have to wait until after the November 4th election.  While not ideal timing, this delay gives the industry additional time to voice support for the Senate's bipartisan bill, S. 2244 and urge all House members to vote for this bill during the upcoming lame duck session.

However, there are no guarantees. For us to be successful, it will take a sustained effort by all ABIA/ABA members to keep the pressure on Congress to renew TRIA when it returns in November. As a reminder, ABIA and ABA grassroots updated our TRIA Action Alert and talking points to help our members contact their Representatives to urge the House to pass S. 2244.

This bill would extend TRIA for seven years, while increasing the amount the private sector would be required to cover after a terrorist attack. Competing legislation passed by the House Financial Services Committee (HFSC) offers a shorter renewal period with less favorable terms on deductibles, the damage threshold and when the legislation is triggered.

ABIA/ABA’s grassroots alert offers talking points to help our members persuade their Representatives to adopt the Senate’s version instead of the HFSC's. For details on the House and Senate TRIA bills, please read the ABIA members-only TRIA matrix. 

Write your members of Congress now.

Learn more about TRIA and ABIA's work to support renewal.

Indicates ABIA members-only material. Not an ABIA member? Contact Jennifer Hatten to learn about the benefits of membership and ways to join here. Visit our membership page to learn more.

Are you an ABIA member but not yet on our ABIA Network? Contact Deanne Marino for an invitation.

The ABIA has a Terrorism Insurance TRIA Task Force. If you would like to learn more about ABIA's support of TRIA or join our Task Forces, please contact us and visit our website.