by David Inserra
The Heritage Foundation
March 12, 2014
Congress is now considering multiple bills to extend the Terrorism Risk Insurance Act (TRIA), a law designed to shore up insurance companies as they adapted to the threat of terrorism after 9/11. While it had a legitimate purpose following the attacks of 9/11, TRIA is no longer needed and serves only as a form of corporate welfare to insurance companies. Rather than continue this program, Congress should allow the insurance companies to stand on their own: The market has matured considerably since the days after 9/11, and insurers have had plenty of time to develop the tools needed to insure against terrorism.

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