Senate Committee Follows House With Terrorism Reinsurance Renewal

Just two months after insurers had all but given up on Congress renewing a terrorist-attack backstop program before it expires next year, the bill has gained new life. The U.S. House of Representatives on Monday approved the Terrorism Risk Insurance Act, known as TRIA, by a vote of 385-22. A Senate committee passed a companion bill the next day. "APCIA applauds the Senate Banking Committee for swiftly passing legislation to extend the Terrorism Risk Insurance Act (TRIA) for seven years,” Nat Wienecke, senior vice president for federal government relations at the American Prope...