[Congressional Record Volume 151, Number 157 (Thursday, December 8, 2005)]
[Extensions of Remarks]
[Page E2486]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             TERRORISM RISK INSURANCE EXTENSION ACT OF 2005

                                 ______
                                 

                               speech of

                             HON. RON KIND

                              of wisconsin

                    in the house of representatives

                      Wednesday, December 7, 2005

  Mr. KIND. Mr. Speaker, I rise in strong support of S. 467, the 
Terrorism Risk Insurance Extension Act of 2005, TRIA. The brutal 
attacks of September 11, 2001, shook the Nation, caused enormous grief, 
and strengthened the country's resolve. Congress pledged to do all we 
could to help the victims' families and to write policy that would help 
in the aftermath if such an attack ever occurs again.
  One tangible way Congress can help is to make sure that businesses 
can afford terrorism insurance; to do this, we must reauthorize TRIA. 
Before the terrorist attacks of 9/11, most insurers offered terrorism 
insurance. Between 9/11 and the signing of TRIA in 2002, it was 
estimated that more than $15 billion in real estate transactions had 
been canceled or put on hold because owners and investors could not 
obtain the insurance protection they needed. TRIA, a public/private 
partnership, protects consumers, keeps an engine of our society going, 
and respects state regulation of insurance.
  As cochair of the New Democrat Coalition, I have long believed that 
TRIA has worked well for individuals, businesses large and small, and 
our country. I am proud that the NDC has been a leader on this issue, 
and I am pleased that Speaker Hastert has responded to the letter our 
coalition sent to him earlier this year, urging him to bring TRIA to 
the Floor. TRIA is scheduled to expire at the end of this month, but 
Mr. Speaker, threat of terror has not expired.
  I plan on supporting this bill, and I encourage my colleagues to do 
the same.

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