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Senate Agrees on TRIA Extension Language

A U.S. Senate panel is expected on Wednesday to back extending the government's terrorism insurance program for seven years, shorter than an extension approved last month by the House of Representatives, sources familiar with the matter said on Monday.

The Senate Banking Committee is also expected to reject two expansions of the program endorsed by the House -- adding group life insurance coverage; and mandating nuclear, biological, chemical and radiological attack coverage, the sources said.

But under a deal between senior committee members and the White House, the banking panel will follow the House's lead and vote to broaden Terrorism Risk Insurance Act (TRIA) coverage to domestic terrorism, as well as foreign.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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