Durbin: Illinois Projects Depend On Re-authorization Of Terrorism Risk Insurance

[WASHINGTON, D.C.] - U.S. Senator Dick Durbin (D-IL) today released the following statement after the Senate approved legislation to reauthorize the Terrorism Risk Insurance Act (TRIA) which provides a federal backstop for insurance coverage against losses from terrorist attacks.  The legislation now goes to the President for his signature. 

“In Chicago - home to some of the tallest buildings in the world - many economic development projects require the reauthorization of Terrorism Risk Insurance Act.  Across our state and the country, we have infrastructure, construction and economic development projects that would come to a halt without this insurance coverage,” said Durbin.  “Unfortunately, after Republican Senator Coburn stopped the reauthorization last month, the House Republicans still insisted on attaching controversial riders to what has historically been a bipartisan, non-controversial piece of legislation.”