House Financial Services Committee Chairman Barney Frank, D-Mass., and others filed legislation late today that would extend the Terrorism Risk Insurance Act (TRIA) by another 10 years and add acts of domestic terrorism to the federal backstop.
HR 2761, which is scheduled for its first subcommittee hearing on Thursday, would eliminate the Dec. 31, 2007, expiration date for the Terrorism Risk Insurance Extension Act, passed in 2005. The bill would retain the current insurer co-payment levels and deductibles for conventional terrorism acts.
But the bill would add government backstops for a...
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