WASHINGTON—In a letter to every member of the United States House of Representatives, the American Hotel & Lodging Association (AH&LA) urged the chamber to immediately address the need to reauthorize the Terrorism Risk Insurance Act (TRIA) now that the 114th Congress has commenced.
Both chambers of Congress have passed legislation to reauthorize the program, yet no final legislation was passed and sent to the President’s desk for signature.
“As the 114th Congress begins its legislative work, it is imperative that the Terrorism Risk Insurance Act be reauthorized immediately. Therefore, the American Hotel & Lodging Association, representing all segments of the 1.8 million-employee U.S. hotel industry, urges you to vote in favor of the Terrorism Risk Insurance Program Reauthorization Act of 2015 when it is brought before the House for consideration this week,” states the letter. “The time is now to reauthorize TRIA.”
First passed by Congress in 2002 in response to the terrorist attacks of September 11, 2001, TRIA was created to provide a federal backstop for terrorism insurance coverage. The program was renewed in 2005 and again in 2007. The program expired at the end of December.