Obama signs TRIA

President Obama has signed the six-year renewal of the Terrorism Risk Insurance Act (TRIA) into law.

Last week, the US Senate reauthorised the bill which was passed on a 93-4 vote, following an overwhelming majority vote in the House of Representatives.

Jeffrey DeBoer, the Real Estate Roundtable's president and chief executive officer, said: "With President Obama's signature on the Terrorism Risk Insurance Act (TRIA) today, America's businesses can once again focus on productive ways to build on the economic recovery now underway and create even more private sector jobs.

“TRIA will not stop terrorists. It does allow all businesses of all types across the nation to secure the insurance and financing that is necessary to expand. The Roundtable commends Congress for reinstituting the expired TRIA law as its first order of business this year, and passing it with nearly unanimous bipartisan support."