CORTEZ MASTO, MCCORMICK, SMITH INTRODUCE LEGISLATION TO PROTECT THE TOURISM INDUSTRY FROM THREATS OF TERRORISM

The following information was released by Nevada Senator Catherine Cortez Masto:

U.S. Senators Catherine Cortez Masto (D-Nev.), Dave McCormick (R-Pa.), and Tina Smith (D-Minn.) introduced legislation to extend the Terrorism Risk Insurance Program for another seven years. Major sports leagues, hotels, and convention centers rely on the Terrorism Risk Insurance program for protection against catastrophic terrorist attacks.

"From the Super Bowl to the World Series of Poker to F1 races, the Silver State regularly hosts large gatherings," said Senator Cortez Masto. "While these events are critically important to Nevada's tourism industry, they also create unique risks. Extending the Terrorism Risk Insurance program would help Nevada's economy recover should a debilitating terrorist attack occur and ensures the continued availability of terrorism insurance for our businesses."

"State sponsors of terrorpose apersistentthreat tothe United States, andwemustbe prepared," said Senator McCormick. "ReauthorizingTRIAensuresbusinessesand workers in Pennsylvania will be supported in the event of a terror attack."

"The Terrorism Risk Insurance Program is critical to keeping insurance available and affordable to businesses in Minnesota and across the country so they can grow and create jobs,"said Senator Smith."Without this bill, a potential terrorism event would mean a financial catastrophe for many businesses and would be extremely costly to taxpayers. I've worked to make sure this bipartisan measure stays in place since I came to the Senate, and I'm glad to be introducing myTRIAbill again to ensure this vital program doesn't lapse."

The Terrorism Risk Insurance Program was established by the Terrorism Risk Insurance Act (TRIA) in response to the lack of affordable insurance coverage for terrorism risk following the September 11 attacks. The program created a public-private partnership that allows the federal government and insurance providers to share losses in the event of a major terrorist attack. TRIA also ensures that resources are available for businesses to recover following a terrorist attack. Under TRIA, all property and casualty insurers are required to make terrorism coverage available. The Terrorism Risk Insurance Program Reauthorization Act of 2026 would extend TRIA for seven years.

The Terrorism Risk Insurance Program Reauthorization Act of 2026 is supported by the American Gaming Association, the American Hotel and Lodging Association, Hilton, IHG Hotels and Resorts, Marriott International, NASCAR, the NFL, the NHL, the MLB, and the U.S. Travel Association.

Senator Cortez Masto is a fierce advocate for Nevada's tourism economy. She has repeatedly demanded the Trump Administration reconsider and reverse its policies that are harming the travel industry and she hosteda press conference with the Culinary Union to call out these harmful Trump Administration policies. Cortez Masto has alsosupported legislationto reverse funding cuts to the effective Brand USA travel promotion public-private partnership program. Ahead of the review of the United States-Mexico-Canada Agreement (USMCA), she introduced legislation to ensure that the U.S. is working with Canada and Mexico to support the travel and tourism industry and urged Trade Ambassador Greer to adopt the proposal outlined in her bill.