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Wall Street Journal Criticizes TRIA While Warning of Terrorism

The Wall Street Journal is taking flack for editorializing against the Terrorism Risk Insurance Act while at the same time saying that the United States must guard against terrorism...
January 23, 2015

The Wall Street Journal is taking flack for editorializing against the Terrorism Risk Insurance Act (TRIA) while at the same time saying that the United States must guard against terrorism. Robert Hartwig, President and Economist of the Insurance Information Institute (I.I.I.) wrote a letter to the editor of the Journal, pointing out the paper's inconsistencies:

"Your editorial ('Taxpayer Insurance for Business, Yeah') (Jan. 8), critical of the House approval of the Terrorism Risk Insurance Act (TRIA) by an overwhelming bipartisan margin (416-5), the day after the Charlie Hebdo terrorist massacre in Paris makes you seem profoundly out of touch. The Journal carried no fewer than 10 articles focused on the attack that same day [but] in a separate editorial ('Islamist Terror in Paris'), warns ominously: 'Wednesday's massacre, following a long string of plots foiled by police in the U.K., France and elsewhere, is a reminder that jihadism isn't a distant Middle Eastern phenomenon.'"

Hartwig points out that TRIA has cost U.S. taxpayers nothing and concludes that it "has become an indispensable component of the nation's national economic security infrastructure, depriving terrorists of the opportunity to strike at the heart of the American economy."

Meanwhile, the I.I.I. has updated its briefing paper on terrorism insurance.

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