Senate Banking Committee to Mark-Up Terrorism Risk Insurance

October 16, 2007

The Senate Banking Committee is scheduled to mark up legislation, which would reauthorize the Terrorism Risk Insurance Act (TRIA) on Wednesday. The House of Representatives has passed their own version which extends the program for fifteen years, but the Senate is expected to address a "pay-as-you-go" budget requirement that is in that version. Currently, TRIA is set to expire on December 31, 2007. ALTA supports the reauthorization of TRIA and has signed a letter asking Chairman Dodd (D-CT) and Ranking Member Shelby (R-AL) to continue their support and leadership on this issue and to consider bi-partisan legislation to extend TRIA.