The federal backstop for terrorism risk insurance has been re-enacted.  TRIA provides for a system of shared public and private compensation for insured losses resulting from acts of terrorism.  TRIA establishes a federal program to provide reinsurance protections to insurance companies following insuring against the damages of terrorism.  Without this backstop from the federal government, insurers […]

The Terrorism Risk Insurance Act (TRIA) will expire at the end of 2014. Objections in the Senate by lame-duck Senator Tom Coburn, (R-OK) on December 16th prevented the passage of Senate Bill 2244, a bill already passed with bipartisan support by the House of Representatives, that would have extended the Terrorism Risk Insurance Act for […]