House Financial Services Committee Passes Terrorism Risk Insurance Bill 08/02/2007 | The Washington, D.C.-based Coalition to Insure Against Terrorism (CIAT) said it strongly supports the Terrorism Risk Insurance Revision and Extension Act (TRIREA), H.R. 2761, as it was marked up by the House Committee on Financial Services, and urges passage of the legislation when it comes before the full House membership.CIAT Steering Committee Coordinator Martin DePoy says the original TRIA legislation and its existing successor legislation, TRIEA, helped to keep the U.S. economy functioning in the wake of the 9/11 terrorist attacks by making terrorism risk insurance available at prices commercial policyholders could afford; however, the current TRIEA law will expire at the end of 2007."TRIREA," DePoy says, "is essential to maintaining the security of the nation's workers and businesses against the threat of terrorist attacks after the expiration of TRIEA at the end of this year. It is an absolutely vital element of our economic homeland security, and we applaud the House Committee on Financial Services for recognizing and responding to this critical need."Especially important to the various policyholder groups that are CIAT's members, according to DePoy, are provisions of TRIREA that would lengthen the term of the program to 15 years; give businesses the ability to secure NBCR coverage under the same terms and conditions as for conventional risks; eliminate the existing legislation's distinction between foreign and domestically sponsored acts of terror; and reduce the program's trigger level."We are grateful for the leadership the House Committee on Financial Services has shown in moving this legislation forward," DePoy says, "and we urge the full membership of the House to give it their support."This information was provided by the Coalition to Insure Against Terrorism, an organization that represents a wide range of businesses and other organizations throughout the transportation, real estate, manufacturing, construction, entertainment, and retail sectors. CIAT speaks for business insurance policyholders as part of an ongoing effort to ensure that terrorism coverage is both available and affordable. For more information, visit CIAT's website. Previous ArticleNext ArticleENERGY STAR Announces 2013 Upgrade of Portfolio Manager Read more on Security » Twitter Facebook LinkedIn RSS Email to a Friend * required fields From* To * Message cancel Email Print Print Related Coverage FMs Prioritize Security Over Going Green 5 Colocation Considerations ADDITIONAL FM TOPICS Security Polycarbonate Sheet Products for High Performance Architectural Glazing Security The Keys to Implementing an Effective Surveillance System Security How a Data Breach Cost Target $220 Million and How to Prevent It Security ASIS Developing Standard on Workplace Violence Prevention Project Management The Key to Project Success: Collaboration Roofing The Vital Role of Insulation in Roofing Systems HVAC Portable Air Conditioners Taming Hot Summer Temperatures: Keeping People & Networks Safe Security A New Approach to Vendor Risk Management HVAC Maximize Your Return from HVAC Maintenance Plans Related Articles Commercial Construction Forecast Predicts Strong 2015 and 2016 CEOs Commit to Resilient Building Commercial Construction Forecast: Promising for 2014 and 2015 Construction Outlook Improving? Architect Compensation Stalls Sponsored Links Smart roof systems improve building energy efficiency! Polyglass’ Polyfresko cap sheets with CURE Technology saves on energy. Engineered to perform, Polyfresko has superior granule adhesion and excellent puncture, stain and UV resistance.