Political Divide Casts Doubts on Renewal of Terrorism Insurance Program

Hope for a speedy renewal of the Terrorism Risk Insurance Act seems to be fading in the face of a partisan divide in Washington, and some say an extension of the so-called terrorism risk backstop is far from a sure thing.  TRIA, a program for sharing risk between the public and private sectors in the event of a large-scale terrorist attack, is set to expire on Dec. 31, 2020, unless Congress reauthorizes it. Initially enacted in 2002, the program was renewed in 2005, 2007 and 2015 through the Terrorism Risk Insurance Program Reauthorization Act, also known as TRIPRA. But whether TRIA wil...