Senate fails to pass Terrorism Risk Insurance Act

Noteworthy. Background: On June 3, 2014, the Senate Committee on Banking, Housing and Urban Affairs reported S. 2244, the Terrorism Risk Insurance Program, out of committee by a vote of 22-0. Floor Situation: At a time to be determined, the Senate will begin consideration of S. 2244.The committee-reported amendments will be agreed to and considered as original text for the purpose of further.

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The long-term viability of the U.S. property terrorism insurance market is back in the spotlight as Congress looks at renewing the federal reinsurance backstop, the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is set to expire in Dec. 31, 2020.

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WASHINGTON (MarketWatch) – The Senate passed a bill Thursday to extend the terrorism risk insurance act until 2020, but voted down an amendment proposed by U.S. Sen. Elizabeth Warren that would.

On December 17, Congress adjourned without taking action to renew the Terrorism Risk Insurance Act (TRIA), which is scheduled to expire after December 31 of 2014.TRIA was a law adopted after the September 11, 2001, terrorist attacks, when insurance companies were understandably hesitant to insure commercial office buildings in New York City and other large metropolitan areas.

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Rep. Al Green Discusses The Terrorism Risk Insurance Act of 2002 Senate Fails to Reauthorize TRIA | The Power of A – Senate leaders failed to move a bill this week to reauthorize the Terrorism Risk Insurance Act (TRIA), after Sen. Tom Coburn (R-OK) refused to agree to a unanimous consent request that would have set up a final vote just before the Senate left town.

The Senate is slated to pass far-reaching legislation this week to roll back. The bill, which has garnered bipartisan support, takes aim at 2010’s Dodd-Frank Act and would free dozens of financial.

Banking & Financial Services. STATE SOVEREIGNTY IN FINANCIAL SERVICES The National Conference of State Legislatures (NCSL) is concerned that Congress, the federal financial services regulators, and the federal courts have sought to nationalize control of financial services in Washington, D.C. NCSL has consistently and strongly advocated for state sovereignty in financial services regulation.

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