The U.S. House of Representatives voted to extend the Terrorism Risk Insurance Act by a vote of 416-5 Wednesday, putting the bill on track for a quick run to passage.
House Resolution 26 would extend the program through Dec. 31, 2020, and raise the threshold at which federal insurance would kick in by $20 million each year. The bill is now headed to the Senate, where political news website The Hill has reported that legislators could pass the extension today.
The Property and Casualty Insurance Association of America lauded the House's quick move to extend the program, which la...
Comments