TRIA was initially created as a temporary three-year federal program, allowing the federal government to share monetary losses with insurers on commercial property/casualty losses due to a terrorist attack. Since then. it has been renewed four times. The current reauthorization is slated to expire Dec. 31, 2027. TRIA requires insurers to make terrorism coverage available to commercial policyholders, but it does not require insureds to purchase it.
Please visit the National Association of Insurance Commissioners' (NAIC) Terrorism Risk Insurance Act (www.naic.org) webpage for the most up-to-date guidance on the law and its reauthorization.