Coalition to Insure Against Terrorism Urges Long-Term Reauthorization
June 18, 2019
A hearing on The Reauthorization of the Terrorism Risk Insurance Program before the Senate Banking Committee was held on June 18 as the Coalition to Insure Against Terrorism (CIAT)—including The Real Estate Roundtable—submitted comments urging Congress to pass a long-term reauthorization of the Terrorism Risk Insurance Act (TRIA).
CIAT's comment letter to Chairman Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH) urges prompt congressional action for a long-term reauthorization of this critical program. The letter states, "At almost no cost to the taxpayer, the Program has been the key factor in ensuring that the private insurance market has remained intact and continues to meet the needs of commercial policyholders during the on-going threat of a future terrorist attack – all while minimizing federal taxpayer exposure."