Date: December 11, 2014
Creator: Webel, Baird
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).
Contributing Partner: UNT Libraries Government Documents Department