U.S. Travel Association Executive Vice President for Public Affairs and Policy Tori Emerson Barnes issued the following statement on the Pandemic Risk Insurance Act (PRIA, H.R. 7011)—modeled on the post-9/11 Terrorism Risk Insurance Act (TRIA)—introduced by U.S. Rep. Carolyn Maloney (D-NY):
“The PRIA legislation is a critical step in building the policy framework to navigate out of the economic crisis that has resulted from the pandemic, and help ensure it never happens again.
“9/11 exposed the need for terrorism risk insurance, and since the impact of coronavirus on the travel industry has been nine times that of 9/11, it is very sensible to offer a similar backstop for pandemics. This measure will go a long way in giving businesses the confidence they need to reopen, which will be vital to a rapid, robust and sustained economic recovery.
“Congresswoman Maloney and the other co-sponsors of PRIA deserve enormous credit for initiating this crucial step to restore American jobs and put the country back on the road to prosperity.”
U.S. Travel Association is the national, non-profit organization representing all components of the travel industry. Travelers in the United States are estimated to spend $1.1 trillion in 2022 (still 10% below 2019 levels). U.S. Travel advocates for policies to accelerate an even recovery across the travel industry and restore economic and job growth for this essential contributor to our nation’s success. Visit ustravel.org for information and recovery-related data.