TRIA

TRIA, or the Terrorism Risk Insurance Act, is a U.S. law enacted in 2002 to help protect businesses from the financial impact of terrorist attacks. It creates a federal backstop, meaning the government shares the cost with private insurers if a terrorist event causes significant damage. Insurance companies provide coverage for such incidents, but if losses exceed certain limits, the government steps in to cover the excess. TRIA encourages private insurance markets to offer terrorism coverage while ensuring economic stability and a coordinated response to large-scale terrorist risks.