WASHINGTON — David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA) issued the following statement applauding Congress for including a 7-year reauthorization of the Terrorism Risk Insurance Act (TRIA) in the government spending package.
“APCIA applauds Congress for their overwhelming bipartisan support in making TRIA reauthorization a top priority and including the legislation in the spending package. This is a welcomed example of good public policy in action,” said Sampson.
“TRIA is critical to the nation’s economic security and commercial growth. Advancing a long-term TRIA on time provides businesses of all sizes with certainty and continuous economic protections against acts of terrorism.
“APCIA commends the leadership of Chairwoman Maxine Waters, Chairman Mike Crapo, Ranking Member Patrick McHenry, Ranking Member Sherrod Brown, Senator Thom Tillis, and Senator Tina Smith. We also appreciate the stead-fast support of Representative Pete King and Representative Carolyn Maloney, since the inception of this vital program in 2002.
“We urge Congress to pass the spending bill, with the 7-year TRIA extension, and send it to the president’s desk expeditiously.”