New York's top financial-services regulator says, based on his perspective as a former prosecutor of terrorism, the Terrorism Risk Insurance Act should be made permanent to respond to unconventional threats.

Benjamin Lawsky, superintendent of the New York Department of Financial Services, said at a meeting of the Federal Advisory Committee on Insurance (FACI), held Wednesday, that while the U.S. has made progress in dealing with conventional terrorism, "unconventional terrorism by its very nature is always going to be with us."

So why, Lawsky said, "aren't we talking about re-upping TRIA in a permanent way?"

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.