Senate Fails To Act on TRIA, Coverage To Expire December 31, 2014
Captive Insurance News, December 18, 2104
The U.S. Senate failed to pass legislation reauthorizing the Terrorism Risk Insurance Act (TRIA), leading to the expiration of this coverage December 31, 2014. While TRIA reauthorization had passed the House it stalled in the Senate, which adjourned without taking action. That means it will be up to the new incoming Congress in 2015 to determine whether the federal government will continue to provide an insurance backstop for terrorism. Read More