NAMIC: TRIA Renewal Will Likely Come Down to the Wire

The Terrorism Risk Insurance act, or TRIA, expires on Dec. 31, 2014, unless Congress passes renewal legislation. At least one industry lobbyist predicts this will happen, but almost at the last minute, sometime in December. The U.S. Senate approved a renewal bill in July by a wide margin, a measure that largely keeps the existing TRIA law — passed after the 9/11 terrorist attacks — the way it currently works now. It has wide support of the insurance industry and many business groups.