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Thursday, July 17, 2014

Update on Senate TRIA and NARAB II Votes

The Senate is currently debating S. 2244, the Terrorism Risk Insurance Act (TRIA) reauthorization bill, and will hold the 5 votes listed below sometime between noon and 1:00pm ET this today.  
  1. Coburn amendment #3549 (extended time frame for TRIA recoupment – recorded vote likely). Sen. Schumer recommended the Senate not support this amendment because it would increase the cost of the legislation and has no pay offsets.
  2. Vitter amendment #3550 (community bank representative on Federal Reserve board – likely voice vote). Sen. Schumer stated he believes this will pass by an unanimous voice vote.
  3. Flake amendment #3551 (advisory committee on risk-sharing – recorded vote likely). Sen. Schumer recommended the Senate support this amendment.
  4. Tester amendment #3552 (NARAB II, with 2 year sunset – likely voice vote). Sen. Schumer recommended supporting this amendment.
  5. Final Passage (recorded vote likely)
Watch the live Senate webcast.

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.