Legislation was introduced in the Senate that would extend the Terrorism Risk Insurance Act for seven years—as the insurance industry wants.
A positive vote early next month in the Senate Banking Committee is expected. However, while the House's initial version might call for major changes in the program including higher deductibles and a shorter reauthorization period, it appears likely the Senate bill, S.2244, will form the basis for the final legislation.
The current reauthorization expires Dec. 31.
Recommended For You
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
© 2025 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.