The Terrorism Risk Insurance Act, which was initially enacted in 2002, and amended by the Terrorism Risk Insurance Revision and Extension Act of 2005 and the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA) (collectively, including both amendments, TRIA), …
Bipartisan legislation filed yesterday in the House of Representatives promises to renew the federal terrorism reinsurance program and the debate about whether the backup program is necessary. Introduced by Reps. Michael Grimm, R-N.Y., Carolyn Maloney, D-N.Y., and eight co-sponsors, the …
The federal backstop that is widely credited with establishing today’s robust terrorism insurance market may be gone in just 24 months. The consequences could be severe, from reduced availability of coverage to increased premiums. The impact would be particularly acute …
