Washington–House and Senate financial services committees will both consider bills extending the federal backstop for terrorism insurance tomorrow.
The action by both bodies for a continuation of the Terrorism Risk Insurance Act raised hopes among insurance industry representatives that the two houses would each approve a TRIA extension measure this week. The differing bills will require a House Senate Conference meeting to work out a final version.
Insurance industry lobbyists viewed it as unlikely that the conference committee will hold its session before Congress' Thanksgiving recess. The lawmakers are not due to return from that break until early December.
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