By a vote of 312-110, the U.S. House of Representatives has approved H.R.2761 – legislation extending and revising the Terrorism Risk Insurance Act (TRIA) for a period of 15 years.
Although the Terrorism Risk Insurance Revision and Extension Act of 2007 achieved bipartisan support in the House, its fate in the Senate is less certain, and the White House has threatened a veto, according to the National Association of Professional Insurance Agents (PIA).
"This is not a task that the private market can handle on its own, either now or in the foreseeable future," comments Donna Pile, national president of PIA. "We urge the Senate to follow the House's lead and pass a TRIA extension, and we encourage President Bush not to veto this critical piece of national security legislation."
