The Terrorism Risk Insurance Program

The Terrorism Risk Insurance Program (TRIP) is a U.S. government-backed initiative that helps insurance companies manage the financial risks associated with terrorist attacks. When a major attack causes significant damage and insurance claims, TRIP provides a federal backstop, ensuring insurers can cover those claims without facing insolvency. This program encourages the availability and affordability of terrorism insurance for businesses and property owners, while sharing the financial burden between the government and private insurers. It aims to stabilize the insurance market and promote economic resilience against the financial impacts of terrorism.