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Thursday, July 10, 2014

Senate May Vote on TRIA/NARAB II Today

Just reported: The Senate may hold a floor vote on TRIA/NARAB II as early as this afternoon.

Senator Charles Schumer (D-NY) has been pushing for a vote to renew TRIA before the August recess. It is still unclear if the Senate will be able to pass the bill under Unanimous Consent (UC) since Sen. Coburn (R-OK) may hold out for his amendments on cost-sharing and allowing states to opt-out of NARAB to be offered.  Coburn's amendment to provide states an opportunity to opt-out of NARAB was defeated on the Senate floor in January and is likely to be defeated again.

If the bill is unable to be passed under UC, then Senate Majority Leader Harry Reid will have to decide if the Senate has time for a floor debate.

For details on the House and Senate bills, please refer to the ABIA TRIA matrix. Read the ABIA members-only TRIA matrix. 

Indicates ABIA members-only material. Not an ABIA member? Contact Jennifer Hatten to learn about the benefits of membership and ways to join here. Visit our membership page to learn more.

Are you an ABIA member but not yet on our ABIA Network? Contact Deanne Marino for an invitation.

The ABIA has a Terrorism Insurance TRIA Task Force and a NARAB Task Force. If you would like to learn more about ABIA's support of TRIA and NARAB or join one or both of these Task Forces, please contact us and visit our website.