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Statement by PIA on Failure of Senate to Pass TRIA

WASHINGTON – The National Association of Professional Insurance Agents is shocked and dismayed that Congress would adjourn without doing its job by passing a long-term renewal of the Terrorism Risk Insurance Act, especially at a time of increasing terrorist threats...
December 17, 2014

WASHINGTON – The National Association of Professional Insurance Agents (PIA) is shocked and dismayed that Congress would adjourn without doing its job by passing a long-term renewal of the Terrorism Risk Insurance Act (TRIA), especially at a time of increasing terrorist threats.

“Disagreement won the day and politics took precedence over protecting the American people,” said PIA National Executive Vice President & CEO Mike Becker. “There was overwhelming bipartisan support to renew TRIA, with both parties showing strong leadership to get a compromise deal done in recent weeks. That support was nearly unanimous, with the House approving the TRIA renewal deal 417-7 last week, and the Senate having already passed a similar version 93-4 last July.”

“If TRIA is allowed to lapse it will not only be devastating to the American economy, it will also put our national security at risk,” Becker said. “PIA calls on Congress to come back as soon as possible and finish its work by extending TRIA, so the American people will not be unprotected. Holiday activities can wait.”