Recent TRIA hearings were held by the House Financial Services Committee to discuss the future of the Terrorism Risk Insurance Program (TRIA), which is set to expire in December next year. NMHC/NAA know that this program is unquestionably critical to multifamily owners and developers because it is a line of insurance coverage required by lenders.
Bipartisan legislation has been introduced in the House, but similar legislation has yet to be introduced in the Senate. Although Committee leadership has expressed a strong desire to extend the program. We would like to hear from you, our members, on TRIA’s impact.