House leaders have brought back the possibility that the federal terrorism reinsurance program could expand to include group life insurance.[@@]
Republican leaders have persuaded the House Judiciary Committee to agree to give up jurisdiction over the House Terrorism Risk Insurance Act extension bill, H.R. 4314. Congressional staffers now say a vote on the bill could occur as early as Wednesday.
“Obviously, getting House floor action is a big step forward,” says Peggy Peterson, a spokeswoman for Rep. Michael Oxley, R-Ohio, chairman of the House Financial Services Committee.
The current version of TRIA is set to expire Dec. 31, and Congress wants to get out of Washington for the holidays by Dec. 17.