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Terrorism Risk Insurance Act

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On November 26, 2002 President George W. Bush signed into law the Terrorism Risk Insurance Act (TRIA) which created a federal backstop for insurance claims related to acts of terrorism. The Terrorism Risk Insurance Act is intended as a temporary measure to allow time for the insurance industry to develop their own solutions and products to insure against acts of terrorism. The Act is set to expire December 31, 2005.

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