On Tuesday, December 17, the House approved a package of bills that includes a seven-year reauthorization of the Terrorism Risk Insurance Act (TRIA) and funding for the National Flood Insurance Program until September 30, 2020.Numerous insurance industry groups applauded the extension of TRIA.The act has been an in the effort to supply terrorism insurance through the private market.
Since it was enacted, the percentage of companies purchasing terrorism insurance has risen to 80 percent, and the price of coverage has fallen more than 80 percent.The $1.4 trillion spending package also includes:
The bill is expected to pass the Senate and be signed by President Trump before government funding expires on December 20.
Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Health Insurance USA.
Publisher: iii
Publisher: iii
