Thursday, December 11, 2014

Urgent BOMA International Advocacy Update - Tell Your United States Senators to Pass TRIA Today!

BOMA San Francisco Members:

BOMA International needs your help in urging the United States Senate to pass S.2244, the Terrorism Risk Insurance Program Reauthorization Act (TRIA) of 2014, which extends the federal terrorism insurance backstop program for six (6) years. Yesterday, the House did its part, passing S.2244 by a vote of 417-7. Without Senate action, the program will expire at the end of 2014, leaving the commercial real estate industry vulnerable to devastating losses and jeopardizing investment and other opportunities for growth. The commercial real estate market simply cannot afford the uncertainty an expiration of the Terrorism Risk Insurance Program would create.

Please take action to urge your U.S. Senators to vote "Yes" on S.2244. Without affordable and available terrorism insurance, commercial real estate financing will be thrown into flux, premium rates will increase dramatically and many commercial properties throughout the country will lose significant value. Contact your Senators today!

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