Statement by Jimi Grande
Senior Vice President of Government Affairs
National Association of Mutual Insurance Companies
RE: Senate Passage of TRIA Reauthorization
“By voting today to extend the Terrorism Risk Insurance Program, the Senate has helped protect our economy from the threat of terrorism and to keep our communities growing. The program helped revive our economy in the wake of the 9/11 attacks, bringing back thousands of jobs lost as development halted due to a lack of affordable terrorism coverage. Since then it has provided the financial security for development in cities and towns from coast to coast, and thanks to overwhelming support from congressional leadership and lawmakers from both sides of the aisle, it will continue to do so.
“The threat of terrorism remains with us, at every church, school, and other gathering places in our communities, as well as at the transportation and energy facilities we rely on. But it will not stop us from building for the future.
“Today also saw Congress extend the National Flood Insurance Program for just nine months, keeping millions of NFIP policyholders in limbo. NAMIC urges Congress to stop avoiding the problems facing the program and give consumers long-term certainty by sending the president the bipartisan reform legislation passed unanimously by the House Financial Services Committee in June.”
Article Posted: 12.19.19
Last Updated: 08.21.20