House Bill Would Reauthorize TRIA, Add NBCR Distinction

Rep. Randy Neugebauer, R-Texas, has introduced a House bill to reauthorize the Terrorism Risk Insurance Act, winning praise from the American Insurance Association.The House bill would extend TRIA for five years rather than the three years included in several earlier drafts of House bills. The Senate’s TRIA bill, which won 22-0 support in the Senate Banking Committee and awaits a floor vote, would reauthorize the act for seven years.The insurers overwhelmingly prefer the Senate version. Like the Senate bill, Neugebauer’s bill would increase insurers’ co-pay from 15% to 20%. U...