The U.S. House of Representatives voted to reauthorize a government backstop for insurers' losses from acts of terrorism after lawmakers let the measure expire last month.
The legislation, which will extend the Terrorism Risk Insurance Act (TRIA) for six years, was passed by the House in a 416-5 vote in Washington today. It now goes to the Senate for a vote that would send the measure to President Barack Obama to be signed into law.
Congress first passed the backstop after the terrorist attacks of Sept. 11, 2001, when insurers said they were hesitant to sell coverage on New York City office buildings.
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