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Expert Analysis

Looming Expiration Of The Terrorism Risk Insurance Act

Law360, New York (June 24, 2014, 10:35 AM EDT) -- The Terrorism Risk Insurance Act of 2002 (as amended, TRIA)[1] is set to expire on Dec. 31, 2014. While the real estate industry is intimately familiar with TRIA and the normalizing effect it has had on the insurance and lending markets after the Sept. 11 terrorist attacks, one suspects (or fears) the broader market may not fully recall the beneficial effects of the legislation. Recognizing its importance in past years, Congress extended TRIA in 2005 and, again, in 2007. In response to the looming expiration in 2014, members of Congress and industry lobbying groups have begun debating the future of TRIA once more....

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