Terrorism Risk Insurance Act (TRIA) 2


Terrorism Risk Insurance Act (TRIA) 2 :

Congress passed the Terrorism Risk Insurance Act (TRIA) in November 2002. Since then, TRIA has been reauthorized twice. The latest reauthorization, passed at the end of 2007, extends the law to 2014. TRIA provides a federal backstop for commercial insurance losses from terrorist acts, making it easier for insurers to calculate their maximum losses for such a catastrophe and thus to underwrite the coverage (Insurance Information Institute, Catastrophes, Jan 2007)

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