Lawmakers are close to extending a federal program that covers a portion of corporations' losses from acts of terrorism, according to three congressional aides.
House Financial Services Committee Chairman Jeb Hensarling and Senator Charles Schumer are nearing a deal on a six-year extension, according to the congressional staff members who asked not to be named because a deal hasn't been announced. Insurers would be reimbursed by the government after their aggregate losses reach $200 million, the aides said.
House Speaker John Boehner told reporters today that he's confident Congress will renew the program known as the Terrorism Risk Insurance Act (TRIA). An agreement hasn't been finalized and could still change, the aides said.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
