ABSTRACT

Reauthorizing TRIA: The State of Terrorism Risk Insurance Market, Hearing Before Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Thirteenth Congress, First Session, September 25, 2013   [open pdf - 11MB]

This is the September 25, 2013 hearing on "Reauthorizing TRIA [Terrorism Risk Insurance Act]" held before the United States Senate Committee on Banking, Housing, and Urban Affairs. From the opening statement of Tim Johnson: "Two weeks ago, we observed the 12th anniversary of the tragic September 11th terrorist attacks on our country. In the aftermath of the tragedy and after suffering steep losses, insurance companies stopped offering terrorism coverage as part of their commercial property policies. This had a destabilizing impact on various parts of our economy. Congress responded by creating the Terrorism Risk Insurance Program to provide a narrow and targeted government backstop for this insurance coverage. The program proved helpful, creating certainty for many businesses, including developers, construction companies, commercial lenders, as well as private insurance markets. […] Today, we review the state of the terrorism risk insurance market, and I look forward to hearing from our witnesses about how the current program has functioned and the ongoing need for the same limited government backstop we already have in TRIA." Statements, letters, and materials submitted for the record include those of the following: Tim Johnson, Erwann O. Michel-Kerjan, and Robert Hartwig.

Report Number:
S. Hrg. 113-130; Senate Hearing 113-130
Publisher:
Date:
2014
Copyright:
Public Domain
Retrieved From:
Government Printing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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