Elizabeth Heck, president and CEO of Greater New York Insurance Companies and former chair of the National Association of Mutual Insurance Companies, is set to testify before Congress on September 17 regarding the reauthorization of the Terrorism Risk Insurance Act (TRIA). The hearing will be held by the House Financial Services Subcommittee on Housing and Insurance at 2128 Rayburn House Office Building in Washington, D.C., with an online viewing option available.
The session, titled “The Reauthorization of the Terrorism Risk Insurance Act of 2002,” aims to discuss TRIA’s impact as a public-private risk-sharing program. According to Heck, “TRIA’s success in ensuring the availability of terrorism coverage, its role in stabilizing the insurance market, and the need for swift, long-term reauthorization to prevent disruption in commercial projects and policyholder protections” are key points she plans to address during her testimony.
Heck also intends to highlight how TRIA’s provisions help mitigate concerns about catastrophic insolvency following terrorist attacks. She notes that these measures contribute to stabilizing the U.S. economy by supporting sectors such as construction and real estate development.
For further information about media access or inquiries related to this event, Matt Brady, Senior Director of Advocacy Communications at NAMIC, can be contacted at mbrady@namic.org or 202.379.6490.
