Members of the House today voted 303-116 to pass a terrorism risk insurance bill that is somewhat different from the Senate version and includes a group life provision.
The number of the bill, which would establish the Terrorism Risk Insurance Program Authorization Act of 2007, was changed to H.R. 4299. The previous number of the bill was H.R. 2761.
The bill now authorizing the terrorism risk insurance program is set to expire Dec. 31.
White House officials say President Bush will veto any bill that is broader than the stripped-down Senate version of the bill, which excludes protection for group life insurers.
House members today reacted to new White House veto warnings by amending their terrorism risk program bill to add the group life protection.
House members also added a provision that would limit life insurers’ ability to use applicants’ travel information in underwriting decisions.
All but 3 Democrats voted for H.R. 4299, and 78 Republicans also voted for the bill.
Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee and the original sponsor of the House terrorism risk insurance program bill, acknowledged the Senate’s strong position.
If the Senate rejects the House language, “we’ll have to acquiesce,” Frank said on the House floor.
Frank also talked about the change in the number of the House version of the bill.