P.L. 109-144, The Terrorism Risk Insurance Extension Act of 2005
- This item is from the 109th Congress (2005-2006) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
S. 467 (enacted as Public Law 109-144) extends the Terrorism Risk Insurance Act (TRIA) through calendar year 2007 but excludes certain lines of insurance coverage formerly offered under TRIA. First enacted in 2002, TRIA requires insurance firms that sell commercial property and casualty insurance to offer clients insurance coverage for damages caused by terrorist attacks. Under the act, the government helps insurers cover losses in the event of a terrorist attack under certain conditions. Prior to enactment of S. 467, TRIA would have expired at the end of calendar year 2005.