NAR President Chris Polychron announced, "Realtors applaud the US House of Representatives and US Senate for prioritizing the reauthorization of the federal terrorism risk insurance program and quickly passing the Terrorism Risk Insurance Act (TRIA), which authorizes the program for six years.

"TRIA provides a crucial framework for economic recovery in the wake of a catastrophic terrorist attack and allows the US to maintain a stable terrorism insurance market so employers can invest in properties, create jobs and insure against losses due to a terrorist attack. Without TRIA, many property owners with existing commercial mortgage balances that require terrorism insurance would be in technical default of their mortgage terms."

President Obama has signed this bill into law, extending TRIA coverage through 2020.