House members plan to introduce legislation extending the Terrorism Risk Insurance Act and creating an optional federal charter before month's end, members of the Risk and Insurance Management Society were assured here.
At the same time, a legislative aide speaking at the “RIMS on the Hill” conference said current plans are to move updated legislation reforming regulation of the surplus lines and reinsurance markets directly through the House floor under expedited procedures, probably by mid-July.
Senate action on the surplus lines legislation is problematic, but the current Senate bill is likely to be updated to include language sought by RIMS that is specific as to who qualifies as an “exempt commercial purchaser,” attendees were told.
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