TRIA Extension Gains SupportWashington
A bipartisan agreement exists right now to enact at least a one-year extension of the Terrorism Risk Insurance Act, a senior member of the House Financial Services Committee said last week.
The comments by Rep. Paul Kanjorski, D-Pa., reflected a consistent theme during a hearing on the effectiveness of the TRIA program, as members raised concerns about the uncertainties in the market with TRIA set to expire at the end of 2005, and with Congress facing a very short time frame in which to decide whether to reauthorize it.
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