House Passes Amended Tria Extension Legislation

Washington, DC - The House of Representatives recently passed H.R. 4299, the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA), which tracks the TRIA extension legislation recently passed by the Senate and adds a number of provisions from the previously-passed House bill. The amended legislation would maintain the Senate's seven year extension but includes a reset for large terrorist events, a $50 million trigger, travel underwriting restrictions and coverage for group life insurance.

"With the program set to expire in a matter of days, time is of the essence. We encourage both chambers to continue working toward a bill that can be signed into law as soon as possible," says Charles E. Symington Jr., Big "I" senior vice president for government affairs and federal relations.

SOURCE: The House of Representatives