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At a hearing on reauthorization of TRIA held by the House Financial Services Committee, one executive called the program the "backbone of a healthy terrorism insurance market."

Insurance trade association PCI says it is not optimistic Congress will move promptly to reauthorize the Terrorism Risk Insurance Act before it sunsets next Dec. 31.

Insurance trade association PCI says it is not optimistic Congress will move promptly to reauthorize the Terrorism Risk Insurance Act before it sunsets next Dec. 31.

The Treasury Department is asking the public to comment on the long-term availability and affordability of terrorism risk insurance.

The Treasury Department is asking the public to comment on the long-term availability and affordability of terrorism risk insurance.

A House Financial Services Committee subcommittee, under pressure from domestic insurance interests, is expected to demand that Federal Insurance Office Director Michael McRaith pressure European regulators to bend policy more to the liking of U.S. insurers.

A House Financial Services Committee subcommittee, under pressure from domestic insurance interests, is expected to demand that Federal Insurance Office Director Michael McRaith pressure European regulators to bend policy more to the liking of U.S. insurers.

A new bill extending the Terrorism Risk Insurance Act for 10 years has been introduced in the House.