If TRIPRA is not extended past the end of 2014, the impact will be huge.

The Terrorism Risk Insurance Act (TRIA), was established in 2002 and by all accounts it continues to do what it was intended to do and that is provide stability and create a viable insurance market.  The future of TRIPRA is uncertain and there is a real possibility it will not be reauthorized and will end entirely or be significantly altered.  The battle lines are being brawn with Congressional hearing and related lobbying are already underway.  If TRIPRA is not extended past the end of 2014, the impact will be huge.  A failure to reauthorize will affect virtually every property owner or business that chooses or is required to carry terrorism coverage.  The time is now to be proactive and meet with your insurance broker who can help identify and analyze risks and exposures.  Property and business owners may want to secure capacity by locking in long term stand-alone coverage.