Whether or not Washington saw fit to extend the Terrorism Risk Insurance Act beyond its scheduled Dec. 31, 2007 expiration, the fate of the federal reinsurance program had to be considered one of the Top-10 stories impacting the property-casualty industry.

As TRIA’s deadline approached and with Congress eager to adjourn for the year, the House and Senate were on a collision course. But when push came to shove, the House blinked and reluctantly agreed to rubber stamp a more modest Senate bill that only adds domestic terrorism to the existing program.

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