On December 26, 2007 President Bush signed the 2007 TRIPRA Extension.
Statement by White House Deputy Press Secretary Scott Stanzel. President Bush has signed into law H.R. 2761. H.R. 2761, the "Terrorism Risk Insurance Program Reauthorization and Extension Act of 2007," which reauthorizes the Terrorism Risk Insurance Program for seven years, through December 31, 2014.
Earlier this month, Senator Dodd offered the following press release regarding the house passage of the bill: “I commend the House for their approval of this measure. It will help to protect our nation’s workers and businesses from the risk of terrorism and help to ensure that our economy is able to thrive and create jobs. This is a carefully crafted, strong and balanced bill ..." Senator Christopher J. Dodd (D-CT, Chairman, U.S. Committee on Banking, Housing & Urban Affairs)
The Big "I" had the following supportive comments on the extension of TRIPRA: "We are enormously pleased that the President has signed into law this long-term extension of the terrorism insurance program. The continuation of this program was a top priority for our members because it allows terrorism coverage to remain available and affordable and brings certainty to policyholders, insurers, and the insurance market as a whole," says Big "I" CEO Robert A. Rusbuldt. "This extension makes it possible for insurers to provide needed coverage for the business customers of independent agents and brokers and for our nation’s economic security.”
Jason Spence, Big “I” assistant vice president for federal government affairs. “It establishes a long-term extension necessary to foster certainty for policyholders while continuing to encourage increased private market capacity.”
“We thank the President, as well as both the House and Senate, for supporting this crucial program and for recognizing the need to pass an extension before the program’s expiration,” says Charles E. Symington Jr., Big "I" senior vice president for government affairs and federal relations. “We are especially grateful to Chairman Frank and Ranking Member Bachus in the House and Chairman Dodd and Ranking Member Shelby in the Senate – without their many months of hard work, this vital piece of legislation would not haven been possible."
Read the: Bill and the Changes made to 15 U.S.C. 6701. This is the final text of the bill or resolution as approved by both the Senate and House, as it is sent to the President in the case of a bill.
Read the: Big "I" Press Release.
Read the: Full Text of Sen. Dodd's Press Release
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