What is the difference between War and TRIA coverage and do I need to purchase them both?

TRIA insurance covers acts of terrorism in accordance with the Terrorism Risk Insurance Act (TRIA). This requires the act of terrorism to be certified by the Secretary of the Treasury as an act of terrorism by a foreign person or foreign interest. War covers not only acts of terrorism, both foreign and domestic, but also war, invasion, acts of foreign enemies, civil war, rebellion, revolution, strikes, riots, civil commotions, labor disturbances, and malicious acts or acts of sabotage. If you purchase TRIA insurance coverage standalone, it has more stringent cancellation provisions than War coverage, and the TRIA cancellation provisions do not allow coverage to be cancelled on short notice. However, that is the only benefit to TRIA over War coverage, and the vast majority of our clients opt to purchase War but forgo TRIA.