Terrorism Risk Insurance Act (TRIA)
ISO is collecting, aggregating, and helping analyze terrorism data this year for the U.S. Department of the Treasury, the federal agency charged with gauging the effectiveness of the federal Terrorism Risk Insurance Program. The program, initially established in 2002 by the Terrorism Risk Insurance Act (TRIA), requires insurers to make available terrorism risk insurance with respect to commercial property/casualty losses and provides a mechanism for the federal government to share the risk of loss from terrorist attacks. This year, insurers participating in the Terrorism Risk Insurance Program are required to submit data as identified by the Treasury Department in the Federal Register. Treasury representatives have indicated that the initial deadline for insurers to report data is May 15. Reporting insurers should register at https://www.tripsection111data.com/.
ISO also provides an array of tools and information to help insurers address terrorism exposures and changes in federal legislation. To access information on ISOnet®, please log in using your subscriber username and password.