The U.S. Congress last week reauthorized the Terrorism Risk Insurance Act (TRIA), which had expired January 1. The action was taken in response to pleas from a variety of industry lobbying groups, including the American Gaming Association.
“We’re pleased that Congress has heard our message on the importance of reauthorizing TRIA on a multi-year basis, a vital tool that ensures economic continuity for the gaming industry in the event of a terror attack,” said AGA President and CEO Geoff Freeman in a statement. “Today, after many months of advocacy by the AGA and a wide range of businesses, the gaming industry’s hotels, casinos, entertainment venues and manufacturing facilities received the certainty necessary to protect our businesses, employees and patrons in the wake of potential acts of terrorism.”
TRIA was first enacted in 2002, following the September 11, 2001 terrorist attacks. Under the law, the federal government pays a “share of compensation for insured losses resulting from acts of terrorism.” This is the third reauthorization of the law.
The AGA, in partnership with other business leaders as part of the Coalition to Insure Against Terrorism (CIAT), had worked to ensure passage of TRIA. Last year, Freeman sent a letter to Senate Banking Committee leaders urging TRIA’s extension. Last fall, AGA aggressively worked with House members also urging swift consideration of the law.
In November, the AGA joined dozens of other business leaders on Capitol Hill to advocate for the importance of TRIA to gaming. The AGA led direct meetings with targeted members of Congress including Senator Dean Heller (R-NV), Rep. Joe Heck (R-NV), Rep. Andy Barr (R-KY) and policy staff for Senator Harry Reid (D-NV).
Additionally, in conjunction with coalition partners, AGA helped recruit dozens of members of Congress to support the reauthorization of TRIA.
