What’s new with TRIA? Nothing at all
R.J. Lehmann, editor-in-chief and a senior fellow of the R Street Institute, a conservative Washington think-tank, said House Republicans appear to have been unable to secure enough votes to push through legislation reported to the floor by the House Financial Services Committee in July over the next two weeks.
That legislation, H.R. 4871, is already onerous, effectively phasing out terrorism risk insurance for anything over than for nuclear, biological, radiological, and/or chemical (NBCR) events.
There appears to be some momentum in the House, according to Lehmann, to support passage of legislation in the current session that would raise the threshold for a federal backstop for terrorism risk insurance from the current $100 million to $250 million.
