After the terrorist attacks of Sept. 11, 2001, insurance coverage for terrorism largely disappeared. The following year, Congress passed the Terrorism Risk Insurance Act to help commercial property-casualty policyholders obtain terrorism insurance and give the insurance industry time to develop mechanisms to provide such insurance after the act expires on Dec. 31, 2005.

The United States General Accounting Office recently assessed the Treasury’s progress in implementing TRIA and how the act affected the terrorism insurance market. Among its actions, the Treasury has issued regulations, created and staffed the Terrorism Risk Insurance Program office, and begun mandated studies and data collection efforts. However, a decision has not been made whether to extend the mandate that insurers “make available” terrorism coverage, using terms not differing materially from other coverage, for policies issued or renewed in 2005.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.