On June 3, the United States Banking Committee unanimously forwarded a bill (S. 2244 the Terrorism Risk Insurance Program Reauthorization Act of 2014) that would extend the Terrorism Risk Insurance Act (or TRIA) for seven years. The bill forwarded by the Senate Banking Committee was introduced in April by Senators Schumer (D-NY), Kirk (R-IL), Reed (D-RI), Heller (R-NV) and has 23 cosponsors.
Chairman Randy Neugebauer (R-TX) of the U.S. House of Representatives’ Financial Services Subcommittee of the Housing and Insurance Committee is pursuing a three year reauthorization. A ...
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