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Terrorism Risk Insurance Program Reauthorization Act of 2019 - Extension of the Terrorism Risk Insurance Program Through December 31, 2027

The Terrorism Risk Insurance Act (TRIA), as extended by the Terrorism Risk Insurance Program Reauthorization Act of 2019, mandates that insurers offer…

What Terrorism Risk Insurance Program Reauthorization Act of 2019 - Extension of the Terrorism Risk Insurance Program Through December 31, 2027 requires

The Terrorism Risk Insurance Act (TRIA), as extended by the Terrorism Risk Insurance Program Reauthorization Act of 2019, mandates that insurers offer terrorism risk coverage in commercial property and casualty policies and establishes a federal backstop for insured losses resulting from a certified act of terrorism, with a program trigger at $200 million in industry losses and a federal share of 80% after insurer retention. This applies to all primary insurers of commercial property and casualty insurance in the United States.

Pillar: Insurance & Risk · Authority: U.S. Department of the Treasury · Version: 1.0.1 · Last updated:

Primary source: https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program

SHA-256 integrity: 04997ad4ed18d785504944121ec2e3b62c0685af8fb6d3735dbf3d7d9028e544

Primary Citations — 5 traced to source

  • Terrorism Risk Insurance Program Reauthorization Act of 2019, https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program, Pub. L. 116-94, 133 Stat. 2534, 2019
  • Terrorism Risk Insurance Act of 2002, https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program, Pub. L. 107-297, 116 Stat. 2322, 2002

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