The American Bankers Insurance Association, the ABA, and the ABA Securities Association joined a broad coalition of U.S. business groups on Sunday to urge the Senate to vote to renew the Terrorism Risk Insurance Act before it expires on Dec. 31. The Senate has a limited window for votes before it is scheduled to recess this week.
“TRIA is a critical public-private partnership that facilitates a private insurance market for terrorism risk insurance,” the groups said. “The program has enabled economic development and supported job growth by assuring that lenders, borrowers and developers have the protection needed to proceed with existing and new projects.”
Read the letter.