Statement From NAIOP on Renewal of the Terrorism Risk Insurance Act
January 08, 2015
NAIOP President and CEO Thomas J. Bisacquino issued the following statement regarding the renewal of the Terrorism Risk Insurance Act by the United States Congress by a vote of 93-4.
“We commend and congratulate the Members of Congress who gave their overwhelming support to renew the Terrorism Risk Insurance Act (TRIA). This bipartisan legislation will ensure the commercial real estate development industry can continue to provide good jobs and economic growth for America.”
“This is sound policy because it enables insurers and private sector capital to provide coverage for losses that otherwise would fall upon the taxpayer. This vital security blanket could help save billions of dollars that would otherwise be spent in the aftermath of a terrorist attack.” Read More