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U.S. Senate Passes Terrorism Insurance Bill

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WASHINGTON D.C. (Worthy News)– The Senate on Thursday overwhelming passed a measure to reauthorize the lapsed Terrorism Risk Insurance Act, one day after the House easily cleared the measure to reinstate the federally backed insurance safeguard against terrorism attacks, the Washington Examiner reported.

President Obama is expected to sign the measure into law.

TRIA, which was passed in 2002 in the wake of the Sept. 11, 2001, terrorist attacks, provides a federal backstop for insurance against terrorism damages, a function that policyholders and insurers say is necessary for big projects throughout the country. –[wp_colorbox_media url=”http://www.washingtonexaminer.com/senate-passes-terror-insurance-bill/article/2558387″ type=”iframe” hyperlink=”Source”]

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