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Prospects brighten for renewal of TRIA; Action on measures in House and Senate fuels optimism.(Terrorism Risk Insurance Act)
Business Insurance, November, 2005 by Hofmann, Mark A.
Byline: MARK A. HOFMANN WASHINGTON-The odds that the Terrorism Risk Insurance Act will be extended for at least two years look considerably better thanks to last week's approval of reauthorization legislation by the full Senate and a key panel in the House of Representatives. But better is far from certain.
The two bills differ considerably on the scope of the federal terrorism insurance backstop that was created by TRIA, which is slated to expire Dec. 31. And even if the full House approves its bill, the differing measures would have to be reconciled before being sent to President Bush, who has said he will not support any extension that is not significantly scaled back. Ultimate passage will not be easy but is possible, say TRIA extension supporters....
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