Regulation/Legislation

A U.S. program that backstops insurance companies losses from acts of terrorism is set to end after the Senate failed to extend it.

What's at risk if Congress fails to extend government-backed terrorism risk insurance before adjourning this week? Just about everything.

What's at risk if Congress fails to extend government-backed terrorism risk insurance before adjourning this week? Just about everything.

Bi-partisan support extends Terrorism Risk Insurance Act by six years, and also includes agent licensing reform with the inclusion of a permanent National Association of Registered Agents and Brokers. UPDATE: House also passes the Insurance Capital Standards Clarification Act, which recognizes the difference between the banking and insurance markets.

House leaders released a proposed six-year extension of a federal program to insure property against the risk of terrorism.

Bi-partisan support extends Terrorism Risk Insurance Act by six years, and also includes agent licensing reform with the inclusion of a permanent National Association of Registered Agents and Brokers. UPDATE: House also passes the Insurance Capital Standards Clarification Act, which recognizes the difference between the banking and insurance markets.