Calif. Lawmaker Backs Measure Urging TRIA Extension

Law360, New York (February 14, 2014, 4:53 PM EST) -- California Assemblyman Ken Cooley on Thursday introduced a resolution urging President Barack Obama and Congress to quickly extend a federal terrorism reinsurance program that is scheduled to disappear at the end of the year.

The resolution warns Obama and federal lawmakers that a failure to reauthorize the Terrorism Risk Insurance Act of 2002 would reduce availability of terrorism coverage and make the insurance much more costly. The federal terrorism reinsurance program provides up to $100 billion in coverage for catastrophic attacks. It was established to encourage...
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