WASHINGTON–Lawmakers pushing for legislative language providing incentives for insurers to cover terrorism in prime target areas will see how the concept fares next week when a committee meets to set the final form of the Terrorism Risk Insurance and Extension Act of 2007.
The TRIA extension bill (H.R. 2761) is due to come up for a first markup Tuesday by the Capital Markets Subcommittee of the House Financial Services Committee.
A new provision in the bill, which extends the federal terrorism reinsurance program, would provide a trigger and deductible break for those insuring areas previously hit by a terrorist attack–such as New York.
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