Washington–The House by a huge margin passed legislation today extending the Terrorism Risk Insurance Act providing a federal backstop for terrorism losses.

The 371-49 vote on S. 467 sets up a conference, probably next week, between the House and Senate to reconcile vastly different bills. Congress wants to adjourn for the year by Dec. 17

Insurance trade groups voiced immediate support for the House action and urged prompt reconciliation of the differing measures.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.