TRIA

News & Analysis as of

Before Adjourning, US Congress Adopts Budget With Dodd-Frank Amendments; Fails To Pass Terrorism Risk Insurance Legislation

Before the 113th Congress adjourned on December 16, Congress adopted the Consolidated and Further Continuing Appropriations Act of 2015, which ensures the federal government operates with budget certainty until September...more

U.S. Congress Fails to Renew TRIA – for Now

The U.S. Senate wrapped up the 113th Congress and left Washington without holding a vote to renew the Terrorism Risk Insurance Act (TRIA). In the closing weeks of the session, Senator Chuck Schumer (D-N.Y.) had negotiated an...more

Terrorism Risk Insurance Act Set to Expire at Year End

The Terrorism Risk Insurance Act (TRIA) now appears set to expire as of December 31, 2014, barring further action from Congress.  The Terrorism Risk Insurance Program Reauthorization Act of 2014[1] would have extended the...more

Congress’ Failure to Extend Terrorism Risk Insurance Act Requires Policyholders to Act Diligently Before January 1

With the recent uptick in terrorist activity omnipresent in the news, the need for financial protection against the effects of terrorism is plainly evident. Nevertheless, Congress has now adjourned for the year without making...more

Our Dysfunctional Congress Skedaddles, Leaving TRIA to Die

Last Friday we reported that the House of Representatives had finally passed a bill reauthorizing the Terrorism Risk Insurance Act (TRIA) and sent it to the Senate. The post included a picture of a cartoon bomb with a lit...more

The Terrorism Risk Insurance Act (TRIA) Set to Expire Year End

The Terrorism Risk Insurance Program Reauthorization Act of 2014 (the “Bill”), which would extend the existing terrorism insurance coverage under TRIA, appears that it will now expire as of December 31, 2014 barring further...more

Senate Fails to Pass TRIA Extension Legislation; TRIA Will Expire on December 31st

Last night, the objections of one member, Senator Tom Coburn, (R-OK), prevented the Senate from passing S. 2244, a bill already passed by the House of Representatives, that would have extended the Terrorism Risk Insurance Act...more

If It’s December, It Must Finally Be Time for Congress to Do Something About TRIA

It looks like Congress is finally turning its attention to reauthorizing the Terrorism Risk Insurance Act (TRIA). The statute will sunset on December 31st unless action is taken before then....more

FIO Focus, No. 70 - Collins Amendment "Fix" Approved by House in Separate Action

The issue of FIO Focus distributed earlier today reported that the expected “fix” of the problem created by the Collins Amendment (Section 171 of the Dodd-Frank Act) was not included in the TRIA reauthorization bill approved...more

FIO Focus No. 69 - House Passes TRIA Reauthorization Legislation

On December 10, 2014, the House approved a bill to reauthorize the Terrorism Risk Insurance Act (TRIA) for six years. The vote was 417-7. The compromise legislation, worked out between Senator Charles Schumer (D-NY) and...more

Jesinoski v. Countrywide Home Loans: The U.S. Supreme Court Seems Ready to Hold that a Borrower’s Right of Rescission Under TILA...

On November 4, 2014, the U.S. Supreme Court heard argument in Jesinoski v. Countrywide Home Loans, the case that will decide whether a borrower can timely exercise the right of rescission under the Truth in Lending Act simply...more

Banking & Financial Services E-Note - July 2014

In This Issue: - New Rule Will Require Banks to Provision for Bad Loans Earlier - Four Years After Dodd-Frank, Law Still Unfinished - Senate Panel to Review Borrowing of 'Too Big to Fail' Banks - Community...more

Terrorism Risk Insurance: To Be Continued?

In the aftermath of the tragic September 11th terrorist attacks and after suffering steep losses, insurance companies stopped offering terrorism coverage as part of their commercial property policies. In response to this,...more

FIO Focus, Issue No. 58: Senate Passes TRIA Reauthorization and NARAB II

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - Senate to vote on TRIA reauthorization bill, Federal Reserve Membership - This week, the Senate is expected to consider a bill (S. 2244) that would reauthorize the Terrorism Risk Insurance...more

Capital Thinking: Homeland Security

Legistlative Activity - Reid Files Motion to Proceed on Terrorism Risk Insurance Bill - On July 9, Senate Majority Leader Harry Reid (D-NV) filed a motion to proceed to the Terrorism Risk Insurance Program...more

FIO Focus, Issue No. 56

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

FIO Focus, Issue 55

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

Congress Moves Towards Reauthorization Of TRIA

Congress returned last week from an extended spring recess with few legislative days left on the calendar before the mid-term elections and a long list of must-do legislation. One piece of legislation that seems certain to...more

FIO Focus, Issue No. 50

The President’s Working Group (PWG) on Financial Markets released its report, "The Long-Term Availability and Affordability of Insurance for Terrorism Risk" (Report), on April 17, 2014. The Report was required under the...more

Bipartisan Group of Senators Introduce Measure to Reauthorize and Extend the Terrorism Risk Insurance Program

Yesterday, Sens. Chuck Schumer (D-NY), Mark Kirk (R-IL), Mike Johanns (R-NE), Dean Heller (R-NV), Jack Reed (D-RI), and Chris Murphy (D-CT) introduced a measure to reauthorize and extend the Terrorism Risk Insurance Act...more

FIO Focus No. 47 - February 2014: Senate Hearing on the Terrorism Risk Insurance Act (TRIA)

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

Insurance Coverage for Cyber Attacks

Thefts of trade secrets through cyber espionage and cyber harassment through distributed denial of service attacks have been business hazards for years. Cyber security insurance policies to guard against these threats have...more

Financial Services Legislative and Regulatory Update -- September 23, 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Welcome to fall, which used to be marked by events like apple...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - Terrorism Risk Insurance Reauthorization Gets Congress’ Attention - Last week the House Financial Services Committee addressed the issue of reauthorization of the Terrorism Risk Insurance...more

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