Insurance industry leaders are still struggling to win congressional approval of a bill that would extend the Terrorism Risk Insurance Act.[@@]
TRIA is set to expire Dec. 31, 2005.
House Democrats declined late Friday to support a compromise that would have cut TRIA extension to 6 months. An earlier version of the extension bill, H.R. 4634, would have extended TRIA for 2 years.
The extension period was cut at the request of House Majority Leader Tom DeLay, R-Texas.
The Democrats’ decision to withdraw support for the amended bill forced the House Republican leadership to pull the bill from the floor.