House Panel Boosts TRIA by 15 Years

The U.S. House Financial Services Committee voted to extend the Terrorism and Insurance Act (TRIA) by 15 years Wednesday, turning away attempts by Republican lawmakers to limit the insurance program and eliminate coverage for nuclear, biological, chemical and radiological attacks. The House panel voted to approve H.R. 2761, known as the Terrorism Risk Insurance Revision and Extension Act of 2007 (TRIREA), after boosting the extension from 10 to 15 years and drastically lowering the program's "trigger" in the event of a second major attack. Financial Services Chairman Barney Frank, D-Mass...