On Monday, Dec. 1, Rep. Stephen Fincher (R-TN) released a "Dear Colleague" letter to the leadership of the House of Representatives urging them to support a long-term reauthorization of the Terrorism Risk Insurance Act of 2002, or "TRIA." The letter, which has the signatures of forty-seven other Members of Congress, reiterates how important TRIA is to the economy, and explains that a short-term extension, as has been suggested by some Members, would only prolongo the problem. Unless it is reauthorized, TRIA will expire on Dec. 31, 2014.
Through its position on the Steering Committee of the Coalition to Insure Against Terrorism (CIAT), NAR has been instrumental in garnering support and signatures for this important letter. As negotiations continue between the House and Senate on TRIA reauthorization, NAR will continue to advocate for a long-term reauthorization that keeps terrorism risk insurance affordable and available throughout the country.