There's an actual chance the Super Bowl won't be played thisyear, and it depends on whether or not Congress renews theTerrorism Risk Insurance Act (TRIA). According to Howard Kunreuther and Erwann Michel-Kerjan ina piece posted at Bloomberg Businessweek, the gamecan't go on without insurance, and the game most likely won't beinsured without TRIA.

In the aftermath of the 9/11 terrorist attacks, most insurerswere unwilling to offer terrorism coverage for businesses — andthat includes the organizers of sporting events, Michel-Kerjan andKunruether maintain. Without insurance, a high-risk eventlike the Super Bowl cannot go on.

The NFL has joined other professional sports leagues and 80business groups to form the Coalition to Insurance AgainstTerrorism (CIAT) to urge Congress to fund the reauthorization ofTRIA. If TRIA is not renewed, insurers will have the rightto cancel terrorism insurance policies after Jan. 1. The Bloombergarticle explains that insurers are likely to cancel the policiesout of fear of insolvency, should another massive terrorist attackoccur without government assistance.

TRIA was signed into law in 2002 to offer federal aid tobusinesses affected by terrorism. The act was renewed in 2005 and2007, and is set to expire on Dec. 31 unless Congress renewsit.

Read more from Howard Kunreuther and ErwannMichel-Kerjan at Bloomberg BusinessweekHERE.

For more on this topic, check out our latest NU video,"Insurance protection for sports stadiums: What's at stake?"HERE.