Senate fails to reauthorise Tria before deadline

The US Senate has adjourned for the year without passing the
Terrorism Risk Insurance Act (Tria), meaning the $100bn government
backstop will expire once its 31 December 2014 deadline passes.
According to reports, Republican Senator Tom Coburn blocked the
bill because he felt taxpayers were taking the majority of the risk
while the insurance industry made billions of dollars.
House Financial Services Committee chairman Jeb Hensarling had
stalled the passage of Tria previously by introducing a mu