Washington–The leadership of the House Financial ServicesCommittee is asking House Republicans to support its version of thelegislation extending the Terrorism Risk Insurance Act because "itis the only TRIA alternative that fully protects taxpayers."
The letter is being circulated to members of the House as itprepares to vote under expedited procedures Wednesday on aninnovative version of legislation extending the federal terrorisminsurance backstop provided by TRIA. The House TRIA extensionmeasure covers more lines of business than a bare-bones Senateversion.
It also provides more protection to smaller insurers againstinsolvency in the case of a large event and establishes a road mapfor ongoing federal involvement after the bill expires at the endof 2007. The bill is titled H.R. 4314.
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