TRIA, which put a federal backstop measure in place that insures that the government covers payouts exceeding $100 billion of insurers' liability in the event of another such attack, is scheduled to expire Dec. 31, 2005. "Without an effective public/private partnership that ensures the availability of comprehensive and affordable terrorism insurance for companies, commercial property developers, owners, and tenants, our economy will suffer a tremendous blow," Chamber of Commerce president and CEO Thomas J. Donahue said in his videotaped address to the forum.

He noted that the construction, purchase, and leasing of new buildings and shopping malls could be cancelled or postponed, destroying jobs and economic development in communities all over the country. "That is why Terrorism Risk Insurance Act needs to be extended--and now, not later. Why the urgency? Because companies that are now negotiating insurance policy renewals for next year and beyond are finding that their terrorism coverage will be severely limited or dropped altogether if TRIA is not extended."

Rep. Pete Sessions of Texas spoke at the event, and gave attendees a big-picture view of the role a secured insurance industry plays in protecting the nation's economy. "The President's economic plan has helped jumpstart America's economy, and businesses are the key to continued growth," Sessions told the crowd. "We must help businesses continue to grow and create jobs by helping their insurers to be stable over the long term."