Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) Update

The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) will expire on December 31, 2014. The House of Representatives had approved legislation amending the program through 2020 and creating the National Association of Insurance Agents and Brokers (NARAB). On Tuesday, December 16th the Senate failed to follow suit to reauthorize the governments 9/11 terrorism risk insurance backstop before adjourning for the year.