Construction industry executives say that major projects could be stalled in the near future if Congress fails to extend the federal terrorism insurance law, which expired on Dec. 31.
The Senate went home for the year without passing the Terrorism Risk Insurance Act (TRIA), which would extend the federal backstop for insurance coverage in the event of a terrorist attack for another six years. TRIA was originally enacted in 2002 in the aftermath of the Sept. 11, 2001, attacks and extended in 2007.