07/07/2016
A Treasury Department evaluation has found that the federal government’s terrorism risk insurance program “remains an important mechanism in ensuring that terrorism risk insurance remains available and generally affordable in the United States.”
The program was first created under the Terrorism Risk Insurance Act of 2002 (TRIA) to facilitate a functioning market for terrorism insurance following the attacks of September 11, 2001. It has since been reauthorized multiple times, including most recently in 2015.
The assessment was conducted by Treasury’s Federal Insurance Office.
(Contact: Robert Dibblee at rdibblee@nareit.com)