The U.S. Senate and House of Representatives have passed two very different versions of legislation extending TRIA. Both now bear the designation H.R. 2761. On November 16, 2007, the Senate voted to replace the language passed by the House in mid-September.
ISO has reviewed both versions of H.R. 2761. We have determined that either version, if signed into law as it now reads, would affect our terrorism products.
Congress is set to return from its current recess on December 4. ISO will continue to monitor the situation closely and keep you advised about any developments and how they affect our programs.
Please refer to circular LI-AL-2007-040, dated November 26, 2007, for details.
December 19, 2007 Update
On December 18, 2007, the House voted to adopt the Senate version of H.R. 2761 which modifies and extends TRIA for an additional seven years through December 31, 2014. President Bush is expected to sign the bill into law over the next several days.
In anticipation of the President's signature, ISO has begun submitting the necessary forms and rules filings that revise its terrorism programs to respond to the changes in the new law.
We will provide copies of the filings in future circulars.
Please refer to circular LI-AL-2007-047, dated December 19, 2007, for details.
December 26, 2007 Update
Legislation extending the Terrorism Risk Insurance Extension Act (TRIA) for an additional seven years was signed into law by President Bush on December 26, 2007.
We have begun issuing separate circulars providing copies of the filings.
Please refer to circular LI-AL-2007-049, dated December 27, 2007, for details.