PIA supports the vital role that independent agents play in the administration and delivery of the Terrorism Risk Insurance Program.
Following the terrorist attacks of September 2001, Congress passed the Terrorism Risk Insurance Act (TRIA) to help protect America and get the economy on the road to recovery by guaranteeing that the federal government would provide a financial backstop in the event of a terrorist attack. The program, while initially temporary, was reauthorized in 2005 and again in 2007. However, the program was not reauthorized when it came before Congress in 2014, lapsing on December 31, 2014. PIA National, along with PIA member grassroots action, advocated for the new 114th Congress to take action early in 2015. PIA’s efforts paid off when on January 7 the House passed a long-term TRIA reauthorization by an overwhelming vote of 416-5, followed by U.S. Senate vote of 93-4 one day later. President Obama signed the bill into law on January 12.
PIA Advocates for Independent Agents by:
- Successfully working with Congress to secure a long-term reauthorization of TRIA in early 2015.
- Working with the Federal Insurance Office (FIO) and the National Association of Insurance Commissioners (NAIC) to ensure the program is administered successfully.
Recent PIA Letters & Comments