The Terrorism Risk Insurance Act (TRIA) now appears set to expire as of December 31, 2014, barring further action from Congress.  The Terrorism Risk Insurance Program Reauthorization Act of 2014[1] would have extended the existing terrorism insurance coverage under TRIA.  Although the House of Representatives previously passed a bill reauthorizing TRIA on December 10, 2014[2], the Senate failed to pass the measure prior to the end of the 113^th Congressional legislative session.[3]  The original insurance program was enacted in 2002 (and subsequently extended in 2005 and 2007)[4] after the 9/11 attacks as a backstop to the shortage of terrorism insurance in the private market.[5]…
Continue Reading The Terrorism Risk Insurance Act (TRIA) Set to Expire Year End