Both Republican and Democrat senators have introduced a Bill to extend and expand the Terrorism Risk and Insurance Act 2002 (TRIA) in the US.
The Bill, sponsored by Democratic senator Christopher Dodd and Republican senator Robert Bennett would extend the original legislation until the end of 2007, and would add several amendments, said a report.
Among the changes is a provision requiring insurers to make cover available for a full 12 months for policies taken out during the last year the Act is in effect. The extended programme would also apply to group life insurers, said the report.
TRIA is currently set to expire on 31 December 2005. Legislation to extend the Act is also going through the House of Representatives.
