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Senators make opening bid, introduce TRIA bill

With the Terrorism Risk Insurance Act (TRIA — P.L. 107–297) set to expire at the end of 2014 unless extended, senators Jack Reed (D-RI), Charles Schumer (D-NY), Christopher Murphy (D-CT), Mark Kirk (R-IL), Dean Heller (R-NV) and Mike Johanns (R-NE) have introduced a bill to extend TRIA.

The senators’ TRIA bill joins three separate bills already introduced in the House of Representatives in the current Congress to extend the TRIA programme (H.R. 508, H.R. 1945 and H.R. 2146) for varying durations on modestly different terms. The senators’ bill and all three House bills are essentially bills to extend the TRIA programme and extend the deadline for the mandatory recoupment required under TRIA. The bills leave most of the current terms of TRIA as last amended in 2007 (P.L.110-160) intact…

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