The federal backstop created by the Terrorism Risk Insurance Act (TRIA) and reauthorized as TRIPRA – along with similar public-private mechanisms that exist in other countries – remains crucial to the continued stability and health of the property terrorism insurance market.
As TRIPRA’s expiration on December 31, 2020 approaches, Marsh & McLennan Companies colleagues have spoken with Treasury Department officials and legislators in both chambers of congress, who generally recognize TRIPRA’s importance and appear optimistic about its extension.
TRIPRA is discussed in the new Terrorism Risk Insurance Report from Guy Carpenter affiliate, Marsh, which explores the state of terrorism and the terrorism insurance marketplace in key regions.
