According to the Insurance Information Institute: "Besides the tragic loss of human life, the economic costs of terrorism are immense: increased security and anti-terrorist expenditures, consumer and investor uncertainty, supply chain and business continuity disruptions, industry retrenchment – all and more can have negative impacts on economic growth." (Photo: ©Richard B. Levine/ALM Media archives)
A bipartisan effort moved forward this week to reauthorize the Terrorism Risk Insurance Act (TRIA) through 2027.
The law, which passed after the 9/11 attacks, creates a federal backstop for insurance claims that arise out of such acts. It is currently set to expire in December 2020.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
