FILE UNDER: "FIFA terrorism insurance 2006"December 15, 2014
TRIA, a law signed into law in 2002, establishes a risk-sharing partnership between the federal government and the insurance industry and without that federal support, most insurers will be unwilling to offer coverage, which translates into no major sporting events!
This is no joke! It almost happened to soccer fans! In 2006, Organizers of the World Cup almost didn’t find someone to insure the final game of the tournament. Luckily, the FIFA was eventually able to secure insurance so the game could go on, but this took several months.
TRIA was renewed in 2005 and in 2007. It is set to expire on Dec. 31 unless Congress renews it. There’s only two weeks left until the deadline! If not, it’s game over!