Nov. 17, 2005 - TERRORISM INSURANCE EXTENSION

 The U.S. Senate Banking Committee has agreed on legislation that would extend
the Terrorism Risk Insurance Act by two years. The Senate deal, which reportedly
has addressed most of the White House's concerns regarding such an extension,
would shrink the program by increasing to $50 million from $5 million the amount of
losses from a terrorist attack that must be incurred before the federal backstop kicks in. With this agreement, committee members are expected to take up the package and vote on it later today. The Senate version comes just after the unveiling of a parallel House bill earlier in the week.

Source: Wall Street Journal (11/16/05)
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