2019 Terrorism Risk Insurance Report
In the United States, there remains a need for a financial backstop for catastrophic terrorist attacks. The original federal Terrorism Risk Insurance Act (TRIA)* and its subsequent reauthorizations provides the necessary buttress against such significant loss of life and property caused by acts of terrorism. The structure of the current law also protects taxpayers from paying for a terrorist attack that exceeds the cost of the 9/11 attack.
Without an extension, TRIA will expire on December 31, 2020. In this report, Aon examines the case for renewing TRIA for an extended time frame and for conducting a study on a growing threat vector that will influence future coverage: cyber terror.