According to the Insurance Information Institute: "Besides the tragic loss of human life, the economic costs of terrorism are immense: increased security and anti-terrorist expenditures, consumer and investor uncertainty, supply chain and business continuity disruptions, industry retrenchment – all and more can have negative impacts on economic growth." (Photo: ©Richard B. Levine/ALM Media archives) According to the Insurance InformationInstitute: "Besides the tragic loss of human life, the economiccosts of terrorism are immense: increased security andanti-terrorist expenditures, consumer and investor uncertainty,supply chain and business continuity disruptions, industryretrenchment – all and more can have negative impacts on economicgrowth." (Photo: ©Richard B. Levine/ALM Media archives)

A bipartisan effort moved forward this week to reauthorizethe Terrorism Risk InsuranceAct (TRIA) through 2027.

The law, which passed after the 9/11 attacks, creates a federalbackstop for insurance claims that arise out of such acts. It iscurrently set to expire in December 2020.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].

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