The Terrorism Risk Insurance Act would be reauthorized in itspresent form but with much greater industry liability for fiveyears under legislation to be unveiled today by House FinancialServices Committee Republicans.
That represents a compromise from an earlier draft, whichproposed to extend the current program for three years, but remainsin contrast to legislation reauthorizing the program reported tothe Senate floor June 3.
The Senate bill extended the program in its current form forseven years, but did increase industry co-shares by one-third undera five-year phase-in period.
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