Despite broad bipartisan support for extending the Terrorism Risk Insurance Act (TRIA) beyond its 2005 deadline, the debate continues over the most efficient means of providing affordable insurance on large commercial properties.

As it currently stands, TRIA, a federal reinsurance program passed in November 2002 to limit potential terrorism-related losses to insurance carriers, will expire Dec. 31, 2005. Last week, legislation was introduced by Reps. Sue Kelly (R., NY), Richard Baker (R., La.), Pete Sessions (R., Texas) and Eric Cantor (R., Va) that would extend the program through 2007.

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