The Risk and Insurance Management Society (RIMS) said today it strongly supports the revision of the Terrorism Risk Insurance Act, or TRIREA, H.R. 2761, as passed by the House Financial Services Committee late Wednesday afternoon.
RIMS said it commends the members of the full committee, as well as the members of the Capital Markets, Insurance and Government Sponsored Enterprises Subcommittee, for their commitment in working toward passage of this important legislation.
“RIMS has been a strong supporter of the Terrorism Risk Insurance Act (TRIA) program from its inception,” said Terry Fleming, member of RIMS board of directors and director of risk management for Montgomery County, Md. “We are pleased that the bill, as passed by the House Financial Services Committee, makes some significant improvements to the program. We are also encouraged to see that the committee was able to work together–on both sides of the aisle–to tackle the difficult issues involved.”
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