Congress Approves Seven-Year TRIA Extension

The Senate on Thursday gave its final approval to a 2020 spending bill that includes a provision to reauthorize the Terrorism Risk Insurance Act for seven years. The Senate voted 71-23 to concur in House amendments that were made on top of changes the Senate made earlier to HR 1865. The House signed off on the Senate amendments Tuesday with a 297-120 vote. HR 1865 would extend the Terrorism Risk Insurance Act through 2027. The measure also calls for a study and report on cyberterrorism, including whether such risks are adequately priced in the private market, and whether the current risk...