WASHINGTON (Sept. 17, 2025)
Commissioner Mais Testifies on Behalf of the 不良研究所官方 at U.S. House Subcommittee Hearing on TRIA
Today, Connecticut Insurance Commissioner and 不良研究所官方 Past President Andrew N. Mais testified on behalf of the National Association of Insurance Commissioners (不良研究所官方) at a U.S. House Financial Services Subcommittee on Housing and Insurance hearing. The subcommittee met to discuss reauthorizing the Terrorism Risk Insurance Act (TRIA), which is set to expire at the end of 2027.
In his testimony, Mais expressed appreciation for the subcommittee addressing the issue more than two years before TRIA鈥檚 expiration date, noting how important proactive planning is to insurers and other businesses. Said Mais, 鈥淵our forethought is both appreciated and necessary, as insurance and reinsurance contracts and decisions to deploy capital are made months, if not years, in advance. Furthermore, business decisions that depend on access to commercial insurance, from deciding to break ground on a commercial space to starting a new business or building more housing, are often years in the making, so understanding that insurance will be available is critical to supporting the continued growth of our communities and the economy."
Commissioner Mais also highlighted the importance of TRIA in ensuring that insurers can provide affordable commercial terrorism coverage. "TRIA is the best type of partnership between the private market and the government. The government鈥檚 involvement, in this instance, creates the appetite for a private market to exist,鈥 stated Mais. 鈥淎nd let me be clear here. Absent TRIA or a similar solution, we do not believe private insurance carriers would make meaningful capacity for affordable commercial terrorism coverage available."
Calling for a long-term reauthorization of 7鈥10 years, Mais explained that TRIA provides a necessary backstop for insurers. "TRIA stabilizes not only the insurance sector, but the broader economy. Businesses and consumers that live, work, and shop in communities in every state benefit from a stable insurance sector, which provides commercial terrorism insurance only because TRIA exists as a backstop,鈥 said Mais.
Read Commissioner Mais鈥 written remarks and watch his testimony .
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (不良研究所官方) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the 不良研究所官方, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. 不良研究所官方 staff supports these efforts and represents the collective views of state regulators domestically and internationally.