Wait 'til next year on TRIA: extension likely to be delayed to mid-year '05.(Washington Report)(Terrorism Risk Insurance Act)

National Underwriter Property & Casualty-Risk & Benefits Management, October, 2004 by Postal, Arthur D.

WITH CONGRESS UNLIKELY TO extend the Terrorism Risk Insurance Act until the middle of next year, industry representatives are advising members to dust off ISO terror exclusions for policies issued after Jan. 1. Congress' unwillingness to act before lawmakers departed and headed for the campaign trail last week hasn't completely dashed the hopes of some lobbyists.

They say a TRIA extension can be included in omnibus legislation that will be acted on during a short lame-duck session to be convened in mid-November. But the reality is that the last few days before Congress departed--the House on Sat., Oct. 9, and the Senate last Monday--represented the best effort to have TRIA extended in this Congress. A compromise bill acceptable to House Republicans that...

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