House Schedules Vote To Revive TRIA

The Republican-controlled House is moving quickly to revive a lapsed government program that’s credited with restoring the market for insurance against terrorism after the Sept. 11 attacks. The terrorism risk insurance program was originally enacted in 2002 after the 9/11 attacks caused the private market for terrorism insurance to collapse. It provides a government backstop for private insurance companies in the event of catastrophic losses. The guarantee has made private companies more willing to underwrite policies against terrorist attacks.