With insured losses reaching a record $23 billion as a result of the 9/11 attacks, businesses were unable to purchase insurance protection against future terrorist events. This left significant sectors of the economy vulnerable, including the real estate, transportation, construction, energy and utility industries. As a result, in 2002, Congress enacted the Terrorism Risk Insurance Act (“TRIA”) as government-backed reinsurance to insurance companies following a declared terrorism event. TRIA provides terrorism insurance accessibility to businesses by requiring business insurers to offer terrorism coverage for the types of claims experienced in the 9/11 attacks.