(HARTFORD, CT) - Governor Dannel P. Malloy today praised the Congressional approval for a six-year extension of the federal government's Terrorism Risk Insurance Act (TRIA).

Created in the wake of the September 11, 2001 terrorist attacks, TRIA provides the insurance industry with a federal backstop to make terrorism insurance available and affordable. The program expired on December 31, 2014 when the 113th Congress adjourned without reauthorizing it.

"This reauthorization was essential and restores much-needed certainty to the insurance industry here in the Insurance Capital," Governor Malloy said. "We are grateful that the reauthorization had the strong support of Connecticut's Congressional delegation and that Congress moved swiftly and overwhelmingly to approve it."

The measure passed the House 416-5 on Wednesday and 93-4 in the Senate on Thursday. It now heads to President Obama, who is expected to sign it.

"This is tremendous news for the people, businesses and projects that rely on the coverage," Deputy Insurance Commissioner Anne Melissa Dowling said. "A key component of the Insurance Department's mission of consumer protection is ensuring that carriers are solvent and have the ability to keep their promises to their customers."

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For Immediate Release: January 8, 2015

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