Washington–The National Conference of State Legislatures (NCSL) late last week asked Congress to "pass a clean, short-term" extension of the Terrorism Risk Insurance Act before it expires Dec. 31.
"TRIA's critical importance to our nation's economy recommends an immediate short-term extension to give stakeholders the needed time to craft a long-term solution," two officials of NCSL said in letters to members of the House and Senate leadership, both Republican and Democrat, urging renewal of the federal backstop for terrorism insurance losses.
The letter was signed by State Sen. Ruth Teichman, R-Stafford, chairperson of the Kansas Senate Financial Institutions and Insurance Committee and chair of the NCSL Financial Services Committee, and Ohio State Rep. Keith Faber, R-Celina, vice chairman of the NCSL Financial Services panel.
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