Terrorism Risk Insurance Act (TRIA) reauthorization passed by Congress

Nat Wienecke, senior vice president of federal government relations for American Property Casualty Insurance Association, has applauded Congress for passing the 2020 fiscal spending bill with a 7-year Terrorism Risk Insurance Act (TRIA) reauthorization.

“APCIA commends the overwhelming bipartisanship expressed in the House and Senate to get TRIA done this year,” he said. “This is a great example of how Congress got their job done, on time, with the interest of the American people at the forefront. Because TRIA is critical to the stability of the nation’s economy, business of all sizes, and the insurance markets, Congress enacted the Program well before it was set to expire. This is a job well done.

“APCIA applauds the leadership of chairwoman Maxine Waters, chairman Mike Crapo, ranking member Patrick McHenry, ranking member Sherrod Brown, senator Thom Tillis, and senator Tina Smith. We also appreciate the stead-fast support representative Pete King and representative Carolyn Maloney, since the inception of this vital program in 2002.
“We urge the president to sign this bill.”