Nareit and other members of the Coalition to Insure Against Terrorism (CIAT), which represents businesses and organizations throughout the transportation, real estate, manufacturing, construction, entertainment, education, and retail sectors, signed a letter from the U.S. Chamber of Commerce urging members of Congress to reauthorize TRIA (the Terrorism Risk Insurance Act).
The letter, sent on Sept. 17, has been signed by more than 300 business interests and Nareit corporate members. The current TRIA authority expires at the end of 2020.
According to the letter, since its initial enactment in 2002, TRIA has served as a vital public-private risk sharing mechanism, ensuring that private terrorism risk insurance coverage remains available to commercial businesses, educational institutions, and non-profit organizations at virtually no cost to the taxpayer.
(Contact: Ron Kuykendall at rkuykendall@nareit.com)