House Panel Approves TRIA with Changes to the Trigger

A U.S. House subcommittee making Congress's first revisions to the proposed 10-year extension of the Terrorism Risk Insurance Act (TRIA) voted Tuesday to drop the aggregate loss "trigger" that invokes the program from $100 million to as low as $5 million in the event of a widespread attack involving previous targets. The change by the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises came in response to complaints from Republicans that HR 2761, known as the Terrorism Risk Insurance Revision and Extension Act (TRIREA), unfairly favors Ne...