House Panel to Hear Terrorism Insurance Renewal This Week

June 18, 2007

Congress is continuing its discussion this week on legislation to renew the federal terrorism insurance backstop program, the Terrorism Risk Insurance Act, which is currently scheduled to expire at the end of 2007.

Congressman Paul E. Kanjorski, D-Pa., chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, announced that the subcommittee will hold a hearing at 10 a.m. on Thursday, June 21, to discuss extending TRIA.

“The Capital Markets Subcommittee is holding this hearing so that members can examine a legislative solution that would extend and modify the Terrorism Risk Insurance Act,” said Kanjorski. “During the hearing, we will examine proposed legislation through which Congress can ensure the continued availability of insurance to protect against terrorism risk and options to better safeguard our nation’s economic security.”

Source: House Financial Services Committee

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