The Terrorism Risk Insurance Act (TRIA) has protected Americans and economic stability at virtually no cost to the taxpayers since it was enacted in 2002. However, if it is not reauthorized in a timely manner, most terrorism insurance protection may be in jeopardy. Congress should not wait until the eve of expiration in 2027 to act. Completing reauthorization this year will provide certainty for businesses and help avoid unnecessary disruption in the marketplace.
Congress has made important progress toward reauthorizing the program. The House has passed H.R. 7128, and S. 4395 has advanced through the Senate Banking Committee with bipartisan support. Additional cosponsors can help demonstrate the support for the legislation as it moves through the Senate.
Now is the time to urge your senators to cosponsor S. 4395 and/or help advance the legislation through the Senate and onto any legislative vehicle that can deliver TRIA reauthorization this year.
Help ensure lawmakers understand the importance of timely action by sending a message today!