Congress plans to tackle reauthorization of the Terrorism Risk Insurance Act starting in early May with Senate Banking Committee action. The panel appears ready to act through legislation that would extend the program along lines the insurance industry wants.
The current reauthorization expires Dec. 31.
The Senate appears to be prepared to sustain the approach contained in the current legislation, which authorized the program for seven years and established deductibles, co-pays and triggers that made economic sense for insurers and ensured financial security for insureds.
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