Policy Issues

CIAT Supports the Terrorism Risk Insurance Program Reauthorization Act of 2019 (S. 2877)

November 18, 2019

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The Coalition to Insure Against Terrorism (“CIAT”) is pleased to support the Terrorism Risk Insurance Program Reauthorization Act of 2019 (S. 2877), and urges all members of the Banking Committee to vote in favor of the bill.

S. 2877 provides a seven-year “clean” reauthorization of TRIA, and requires an examination of the evolving risk of cyber terrorism, as well as the impact of the program on places of worship. This legislation recognizes the critical importance of ensuring that the TRIA backstop remains in place, while keeping an eye on evolving risks and potential market impacts.