Terrorism Risk Insurance Legislation: Issue Summary and Side-by-Side Analysis
Description
After the September 11, 2001, terrorist attacks, Congress responded to the disruption in the insurance market by passing the Terrorism Risk Insurance Act of 2002 (TRIA; P.L. 107-297). TRIA created a temporary program, to calm the insurance markets through a government reinsurance backstop sharing in terrorism losses. The current TRIA program expires at the end of 2014. This report briefly outlines the issues involved with terrorism insurance, summarizes the extension legislation, and includes a side-by-side of the current TRIA law and the bills that have been passed by the Senate (S. 2244), reported by the House Committee on Financial Services …
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Description
After the September 11, 2001, terrorist attacks, Congress responded to the disruption in the insurance market by passing the Terrorism Risk Insurance Act of 2002 (TRIA; P.L. 107-297). TRIA created a temporary program, to calm the insurance markets through a government reinsurance backstop sharing in terrorism losses. The current TRIA program expires at the end of 2014. This report briefly outlines the issues involved with terrorism insurance, summarizes the extension legislation, and includes a side-by-side of the current TRIA law and the bills that have been passed by the Senate (S. 2244), reported by the House Committee on Financial Services (H.R. 4871), and passed by the House (S. 2244 with a substitute amendment).
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Congressional Research Service Reports
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Webel, Baird.Terrorism Risk Insurance Legislation: Issue Summary and Side-by-Side Analysis,
report,
December 11, 2014;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metadc501846/:
accessed April 24, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.