Tag Archives: TRIA

Terrorism Backstop Renewed, but Coverage Not Retroactive

TRIA (green)

President Barack Obama signed into law Monday the extension of the Terrorism Risk Insurance Program Reauthorization Act of 2015 which extends the program until December 31, 2020. The law H.R. 26, also gradually increases the trigger required to activate the program … Continue reading →

TRIA, Panic and the Illusion of Business as Usual – Reflections for the Insurance Industry

Looking back on the surprise of TRIA’s temporary non-renewal offers lessons for an industry that may not fully acknowledge the complexity of its relationship with government and regulators and may not be ready for fundamental challenges that lie ahead. Continue reading →

TRIA Passes Senate; Next Stop President

Senate passes TRIA

On January 8th, the Senate voted to pass the Terrorism Risk Insurance Program Reauthorization Act of 2015 which extends the Terrorism Risk Insurance Act for an additional six years until 2020. This follows a bi-partisan vote of 416-5 in the … Continue reading →

TRIA Passes House (Again)

TRIA

An extension to the Terrorism Risk Insurance Act (TRIA) has just been passed by the U.S. House of Representatives, with a majority vote of 416 – 5. Continue reading →

TRIA: Epic Fail

TRIA

Congress’ failure to authorize an extension of the Terrorism Risk Insurance Program Reauthorization Act of 2014, (TRIPRA) has the potential to create serious disruption for many businesses who depend on the backstop for property, liability, workers compensation and captive insurance … Continue reading →

TRIPRA Legislative Update: Delays Continue in Final Vote

capitol building

On Wednesday, December 10, the House of Representatives, in a vote of 414/7, passed legislation to reauthorize the Terrorism Risk Insurance Program Reauthorization Act of 2014, (TRIPRA) for a further six years. While the overwhelming House vote in favor of this … Continue reading →

TRIA Moves Closer to Renewal

capitol building

Reports from Washington, D.C. today indicate that Capitol Hill may be finally closing in on a  potential compromise to renew  the Terrorism Risk Insurance Program Reauthorization Act of 2007 or TRIPRA.  Continue reading →

Senate Passes 7-Year TRIA Extension; House Warns of Further Delays

TRIA

As widely anticipated, the U.S. Senate today, in a 93 to 4 vote, passed a seven-year extension of the Terrorism Risk Insurance Act. The legislation—authored by New York Congressman Chuck Schummer, along with Mark Kirk of Illinois, Bob Menendez of … Continue reading →

Current TRIPRA Momentum Bodes Well for Passage

capitol+flag

On June 3rd 2014, the Banking, Housing and Urban Affairs Committee of the U.S. Senate took a step forward in the Terrorism Risk Insurance Program Reauthorization Act 2007 extension debate by reporting out legislation (S.2244) to extend the program for … Continue reading →

Senate Bill to Extend TRIA: Positive, but no Guarantee

Senate Passes TRIA

Yesterday, Democratic and Republican Senators  jointly  submitted draft legislation that proposes a seven-year extension to the Terrorism Risk Insurance Program Reauthorization Act of 2007 (“TRIPRA”).  This seven-year extension proposes minor changes to the current legislation: Continue reading →