Business Insurance News

December 22, 2014

Terrorism Risk Insurance Act (TRIA) expired December 31, 2014

As you may be aware, the US Senate unfortunately adjourned their last session without authorizing the extension of the Terrorism Risk Insurance Act (TRIA). This program was developed to provide a federal backstop for insurance claims related to acts of terrorism. As a result, this (TRIA) program expired December 31 2014. Industry representatives advise that when Congress resumes on January 6th, the extension of TRIA will be a top priority and we are hopeful this issue can be resolved. At Regions Insurance we are committed to helping all of our clients understand and deal with this unusual set of circumstances. In the meantime, if you require certainty on terrorism coverage in the U.S., you should speak with your Regions Insurance representative. If you would like additional information, click on the Learn More link for an article on this topic issued by the Independent Insurance Agents & Brokers of America.
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