Tuesday, December 23, 2014

Expiration of TRIA on 12/31/14

Good afternoon and Happy Holidays to you.


I’m writing to bring you up to speed on Terrorism insurance.  As many of you may know, after 9/11, the insurance industry moved to exclude Terrorism coverage from all policies.  Congress passed the Terrorism Risk Insurance Act, which required insurance companies to offer Terrorism coverage to be purchased at the policyholder’s option.  When Terrorism insurance is accepted, the policy covers  bodily injury, property damage, loss of business income, etc. caused by a terrorist act.


Congress ended its 2014 session without re-authorizing TRIA.  The bill passed in the House with bi-partisan support, but the Senate failed to take up the bill.  Therefore, we anticipate that the act will expire on 12/31/14.  Once it expires, insurance companies’ sunset provisions may void TRIA coverage after midnight on that date. 


Since the bill had bi-partisan support, we do anticipate that TRIA will be re-authorized once Congress is back in session in January.  In the meantime, however, there is a potential coverage gap for your Terrorism insurance starting 12/31/14 at midnight.


There are some carriers who offer stand-alone Terrorism insurance.  If you are interested in additional information on that coverage or if you have any questions on how TRIA’s expiration may affect your policy, please let us know.


Thank you for your business.



Thank you,



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Jimmy Norton, CPCU

14120 Parke Long Court, Suite 205

Chantilly, VA  20151    

o:  703-631-4500   x2003

f:   703-631-7221  





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