PIA supports the creation of a long-term mechanism for terrorism coverage to ensure the viability of the existing domestic insurance market. 

• Legislation must be passed well before the December 31, 2007 expiration of the Terrorism Risk Extension Act of 2005 because insurance companies are evaluating policy renewals now.
• The trigger level for a federal backstop should be at a level that allows small insurance companies to participate in the program, not just large insurers.
• The inclusion of nuclear, biological, chemical and radiological attacks (NBCR) must be addressed in legislation.  Attacks of this magnitude cannot be absorbed by the insurance industry without federal participation.
• The need for TRIA is nationwide, not just confined to urban areas.

To learn more about PIA's position on Terrorism Insurance, read the March 2007 Terrorism Insurance PIA Position Paper (PDF file).