Congresswoman Nikema Williams at FSC Hearing on the Reauthorization of the Terrorism Risk Insurance Act of 2002

<p><strong>WASHINGTON, D.C.</strong> – Today, <strong>Congresswoman Nikema Williams (GA-05)</strong> joined the Financial Services Committee Housing and Insurance Subcommittee Meeting to ask witnesses and speak on the Reauthorization of the Terrorism Risk Insurance Act of 2002 (TRIA):</p>

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<p><strong>Congresswoman Nikema Williams (GA-05)</strong>:</p>

<p>&#8220;I represent Georgia&#8217;s Fifth Congressional District, a region with a very vibrant business community and that is centered in Atlanta, where we have a lot of large-scale national security events.</p>

<p>And while we can&#8217;t predict where and when a terrorist attack could happen on our American soil, we know that sometimes big events are a draw. So, that brings a lot of things to mind for me.</p>

<p>The City of Atlanta is preparing to host the World Cup next year, and it&#8217;s a stark reminder of what happened almost 30 years ago when the Centennial Olympic Park bombing happened during the 1996 Olympics. Now, this was pre-TRIA being implemented, so that wasn&#8217;t something the businesses and the community of Atlanta had access to, which is why this is so important to me.</p>

<p>Terrorism Risk Insurance, or TRIA, is such an important program, and, quite frankly, a program that no matter what side of the aisle you&#8217;re on, as you&#8217;ve heard today, we all agree that this is a program that should exist, and this coverage is very important.&nbsp;</p>

<p>Mrs. Heck, given that TRIA has been extended four times since its inception, what are the benefits of having a longer reauthorization, say ten years or more, so that our communities can have the stability and consistency for their economic development? I&#8217;m thinking down the road of big events that we&#8217;re already planning for in Atlanta, and just everything that we&#8217;re hearing in this day and age, giving peace of mind to our communities.&#8221;</p>

<p><strong>Mrs. Elizabeth Heck:</strong></p>

<p>&#8220;So, first of all, again, the program has proven that it works. It&#8217;s been 24 years and the market has really stabilized by the program. So, the longer that we can extend it, the more stability we will introduce into the market.&#8221;&nbsp;</p>
<p>The post <a href="https://nikemawilliams.house.gov/posts/congresswoman-nikema-williams-at-fsc-hearing-on-the-reauthorization-of-the-terrorism-risk-insurance-act-of-2002">Congresswoman Nikema Williams at FSC Hearing on the Reauthorization of the Terrorism Risk Insurance Act of 2002</a> appeared first on <a href="https://nikemawilliams.house.gov">Nikema Williams</a>.</p>