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Terrorism Risk Insurance Act TRIA

Following the terrorist attacks of September 11, 2001, insurers backed out of the terrorism insurance market place prompting Congress to create a federal reinsurance backstop program in the Terrorism Risk Insurance Act (TRIA) of 2002, which also mandated that insurers make terrorism coverage available along with its property and casualty lines.  This program was reauthorized in January 2015 to reauthorize the program through 2020.