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 Email Share Share Other Open Social Related Coverage Most Buildings Not Prepared For Cyberattacks How a Data Breach Cost Target $220 Million and How to Prevent It How MGM’s Lawsuit Could Impact Building Owners Related Articles Security Reducing Facility Costs with Integrated Access Control Solutions Security 5 Colocation Considerations Security Are We Locking out the Elderly From Our Facilities? Security Secure Your Building With ASIS Risk Assessment Guide Life/Fire Safety 7 Most Essential NFPA® Standards for Building Owners Sustainability / Resilience How to Future-Proof Your Building Building Controls The First Steps of Adding Intelligence to Your Facility Energy Management How to Increase Productivity and Engagement in Outdoor Spaces Building Controls Fine-Tuning HVAC Controls for Maximum Efficiency 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. Increase profitability by cleaning smarter and transforming your building into a high performing asset. Get tips from High Performance Building experts Whether it’s earning an IREM credential or increasing your job skills, any goal in property management can be accomplished with IREM education. Click here to visit our website!