PIA praises Senate passage of bill to reauthorize TRIA

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National Jul 21, 2014

PIA praises Senate passage of bill to reauthorize TRIA

PIA is praising the U.S. Senate for passing the Terrorism Risk Insurance Program Reauthorization Act (S.2244). The bill passed overwhelmingly on July 17 by a vote of 93-4. It extends the Terrorism Risk Insurance Act program in its current form for seven years, but increases industry co-shares by one-third under a five-year phase-in period.

"PIA applauds the Senate for passing legislation that reauthorizes this vital program that provides for a financial backstop in the event of a terrorist attack," said PIA National Director of Federal Affairs Jon Gentile. "We are pleased that the Senate bill extends TRIA for a full seven years and that it seeks to ensure the widest possible availability and affordability of terrorism insurance for consumers. We urge the House to quickly follow suit so that Congress can get to work resolving differences between the Senate and House versions of the legislation."

To read PIA Nationals full statement, click here.

Latest news on TRIA

Aug. 31, 2014:
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July 17, 2014:
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July 10, 2014:
TRIA bill headed to Senate floor

June 20, 2014:
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June 2, 2014:
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May 20, 2014:
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May 6, 2014:
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April 23, 2014:
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