The latest legislative news, including updates on the NFIP, TRIA and more. (Photo: Shutterstock)
Editor's Note: At the start of each month, we publish insurance legislative and regulatory news and updates from around the nation.
|National updates
The U.S. House of Representatives and the U.S. Senate's Banking, Housing and Urban Affairs Committee voted to reauthorize the Terrorism Risk Insurance Act (TRIA) through 2027. The law, which passed after the 9/11 attacks, creates a federal backstop for insurance claims that arise out of such acts, and its current authorization is set to expire in December 2020. Congress is now urged to move quickly and pass the TRIA extension before the year's end.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
