With only five days to go before the Terrorism Risk InsuranceAct (TRIA) was set to expire at year's end, President Bush signedinto law legislation that reauthorizes the federal backstop foranother seven years. The legislation extends coverage for acts ofdomestic terrorism, in addition to foreign acts of terrorism.Several House provisions were eliminated from the final bill at thelast minute, including coverage of nuclear, biological, chemicaland radiological events, adding group life insurance to thebackstop and lowering the programs “trigger” level for coverage to$50 million from $100 million.
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