Washington–The Senate Banking Committee this morning unanimously approved and sent to the Senate floor legislation extending the legislation providing a federal backstop for terrorism insurance, albeit in a more modest form than the current measure.
The Senate bill renewing the Terrorism Risk Insurance Act omits coverage for group life insurance. A TRIA bill that the House is moving adds group life insurance to the products covered by the bill.
David Winston, senior vice president, federal affairs, for the National Association of Mutual Insurance Companies, said the Senate is likely to take up the bill this week, before it leaves for a Thanksgiving recess.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
