There is strong bipartisan support for the extension of the Terrorism Risk Insurance Act (TRIA) said the American Insurance Association (AIA).
It said new legislation put forward by several Democrats demonstrated congressional support for the extension of TRIA while long-term solutions were being considered.
“Momentum is building on both sides of the political aisle and on both sides of Capitol Hill to extend TRIA this year,” said Leigh Ann Pusey, AIA senior vice president of government affairs.
“The House majority's ‘Terrorism Insurance Backstop Extension Act of 2004' (HR 4634) and the Democrats' bill (HR 4772) clearly show that members of Congress want to devote significant energy to this issue this year
“We will continue to work with congressional leadership to help forge bipartisan legislation that extends TRIA and keeps this important economic safety net from fraying.”
