Gates: ’Huge Mistake’ for Congress to End TRIA

Former Defense Secretary Robert Gates says Congress should reauthorize its terrorism insurance program in the lame-duck session. Gates said it would be a “huge mistake” for lawmakers not to renew the Terrorism Risk Insurance program, which was enacted after the Sept. 11, 2001, terrorist attacks to provide a federal backstop for the cost of insurance payouts after large-scale attacks.“Terrorism is a tactic used by the weak against the strong, and it will be with us as far into the future as any of us can see,” Gates said Monday at an insurance industry event in Scottsdale, Ariz.