On Motion to Suspend the Rules and Pass, as Amended
✓ PassedPassed373 Yea · 15 Nay · 43 Not Voting
Yea:191 D181 R
Nay:0 D15 R
What This Bill Does
This bill reauthorizes the Terrorism Risk Insurance Program through 2034. The program covers a portion of the losses incurred by private insurers for property and casualty insurance coverage for terrorism risk.The bill also increases the amount of property and casualty insurance losses required for certification under the program beginning in 2029 and provides statutory authority for Department of the Treasury public notification requirements regarding the determination process for whether an act qualifies as an act of terrorism under this program.
This bill's title gives a fair impression of what it does. Reauthorizes the Terrorism Risk Insurance Program through 2034 and modifies its requirements and procedures
Watch Items
•The bill title doesn't mention the expiration date change.
•The title also doesn't mention increased loss requirements starting in 2029.
•Most notably, the title doesn't indicate any changes to the determination process for terrorism under the program.