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U.S. Senate introduces TRIA reauthorization bill


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On Thursday, April 10, Senator Chuck Schumer (D-NY) introduced S. 2244, a bill to reauthorize the Terrorism Risk Insurance Act (TRIA) for seven more years. The bill is currently set to expire at the end of 2014. Along with extending the program, the bill also makes some changes to its mandatory recoupment amount ($27.5 billion to $37.5 billion) and reduces the federal share of the compensation for insured losses (from 85 percent to 80 percent). 

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