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House Committee Unveils TRIA-Extension Bill with 5-Year Term

The Terrorism Risk Insurance Act would be reauthorized in its present form but with much greater industry liability for five years under legislation to be unveiled today by House Financial Services Committee Republicans.

That represents a compromise from an earlier draft, which proposed to extend the current program for three years, but remains in contrast to legislation reauthorizing the program reported to the Senate floor June 3.

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