Washington–The Treasury Department issued a report today giving limited support for extension of a modified version of the Terrorism Risk Insurance Act that provides a federal backstop for insurers.
The current bill expires Dec. 31 unless extended, and Congress, which mandated the Treasury examination of TRIA effectiveness, has been looking forward to the report for guidance on how it should proceed.
Treasury's less than enthusiastic evaluation of the program during its 31-month life implied that it will support an extension for even a limited period only if there is less government involvement going forward.
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