On Wednesday, the U.S. House of Representatives passed H.R. 26, the "Terrorism Risk Insurance Program Reauthorization Act of 2015" during the first days of the 114th Congress by a 416-5 bipartisan vote.
If signed into law, this legislation will extend for six years the Terrorism Risk Insurance Act (TRIA) program, which expired Dec. 31, 2014—leaving much of the commercial property & casualty market at severe financial risk from a terrorist attack.
The bill includes the National Association of Registered Agents and Brokers (NARAB II) legislation that would establish a permanent NARAB to streamline agent licensing to benefit small businesses and many insurance consumers.
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