Lawmakers Urged to Renew TRIPRA

Insurance industry representatives testified before the U.S. Senate Committee on Banking, Housing and Urban Affairs on Tuesday to call for the renewal of the Terrorism Risk Insurance Program Reauthorization Act, or TRIPRA. The act, which provides a “backstop” for insurers’ losses in the case of a terrorist attack, is scheduled to expire on Dec. 31, 2020. Among those testifying was Tarique Nageer, property terrorism placement and advisory leader for Marsh, an insurance broker and risk advisory company. “Terrorism remains an evolving, expanding and ever-presen...