legislation: 109-hr-4619

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
109-hr-4619 109 hr 4619 Commission on Terrorism Risk Insurance Act of 2005 Finance and Financial Sector 2005-12-17 2006-01-10 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. House Rep. Fossella, Vito [R-NY-13] NY R F000440 19 Commission on Terrorism Risk Insurance Act - Amends the Terrorism Risk Insurance Act of 2002 to establish the Commission on Terrorism Risk Insurance. Directs the Commission to identify and make recommendations regarding actions to: (1) encourage, facilitate, and sustain provision by the private domestic insurance industry of affordable coverage for losses due to acts of terrorism; (2) sustain or supplement the ability of the domestic insurance industry to cover losses resulting from acts of terrorism; (3) reduce the federal role over time in any continuing federal terrorism risk insurance program; and (4) evaluate whether coverage under the Terrorism Insurance Program is necessary to permit redevelopment at sites of previous acts of terrorism. Instructs the Commission to evaluate and makes recommendations on the need for a federal terrorism risk insurance program. Requires the Terrorism Insurance Program to remain in effect, but only to cover insured losses under property and casualty insurance issued on or before December 31, 2008, if the Commission determines that the market will not provide for renewal or generation of new insurance contracts necessary to permit redevelopment at the site of a previous act of terrorism. 2023-01-13T04:49:23Z  

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