"We are pleased our advocacy has paid off with the Senate Banking Committee acting in a timely manner," said Jon Gentile, PIA National vice president of Government Relations. (Photo: Architect of the Capitol)
If the speed with which the Terrorism Risk Insurance Program Reauthorization Act of 2019 made it to the floor of the U.S. Senate and through its Banking, Housing and Urban Affairs Committee is any indication, Congress may move quickly to pass the bill before the holidays.
The law, which passed after the 9/11 attacks, creates a federal backstop for insurance claims that arise out of such acts. It is currently set to expire in December 2020. The bill before Congress now would extend TRIA to 2027.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
