Senate, House Panels Both Advance Terrorism Insurance Bills

Thursday, November 17th, 2005 Catastrophe Legislation & Regulation

The Senate Banking Committee and House Financial Services Committee each marked up legislation today to extend the Terrorism Risk Insurance Act (TRIA) for two years. The Senate Banking Committee reported out S. 467 by voice vote. The House Financial Services Committee approved H.R. 4314, the Terrorism Risk Insurance Act of 2005, by a 64-3 margin. The American Insurance Association and Property Casualty Insurers of America applauded the legislative progress of both committees and urged prompt floor votes but neither association immediately indicated a preference for one version over the other.

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http://www.insurancejournal.com/news/national/2005/11/16/61969.htm

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