House of Representatives passes Tria renewal

The US House of Representatives passed legislation to renew the
Terrorism Risk Insurance Act (Tria) last night (7 January), with an
overwhelming vote of 416-5.

The legislation now travels to the Senate, where a vote is expected
to be organised and passed later this week.

Lawmakers had failed to reauthorise the programme during the
last Congress, allowing it to expire on 31 December, leading to
uncertainty in the business and insurance community.

One of the major sticking points had been...