3.0.0 2285 2022-02-03T05:10:53Z 2023-01-10T14:13:39Z Senate S S 2007-11-01 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Reported original measure 2007-11-01T18:24:16Z S. Rept. 110-215 Terrorism Risk Insurance Program Reauthorization Act of 2007 110 4299 HR 2007-12-13 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Terrorism Risk Insurance Program Reauthorization Act of 2007 110 2761 HR 2007-12-26 Became Public Law No: 110-160. Related bill House 2007-11-01 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 461. Calendars 2007-11-01 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Dodd. With written report No. 110-215. Committee 2007-11-01 Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Dodd. With written report No. 110-215. Committee 14000 9 Library of Congress ssbk00 Banking, Housing, and Urban Affairs Committee 2007-11-01 Introduced in Senate IntroReferral 10000 9 Library of Congress D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN N 2007-10-29T04:00:00Z S. 2285, Terrorism Risk Insurance Revision and Extension Act of 2007 http://www.cbo.gov/publication/19273 <p>Cost estimate for the bill as ordered reported by the Senate Committee on Banking, Housing, and Urban Affairs on October 17, 2007</p> 2007-10-29T04:00:00Z S. 2285, Terrorism Risk Insurance Revision and Extension Act of 2007 https://www.cbo.gov/publication/19273 Cost estimate for the bill as ordered reported by the Senate Committee on Banking, Housing, and Urban Affairs on October 17, 2007 2007-11-16T06:00:00Z S. 2285, Terrorism Risk Insurance Program Reauthorization Act of 2007, including proposed amendment http://www.cbo.gov/publication/19332 <p>Cost estimate for the bill proposed amendment transmitted by the Committee on Banking, Housing, and Urban Affairs on November 14, 2007</p> 2007-11-16T06:00:00Z S. 2285, Terrorism Risk Insurance Program Reauthorization Act of 2007, including proposed amendment https://www.cbo.gov/publication/19332 Cost estimate for the bill proposed amendment transmitted by the Committee on Banking, Housing, and Urban Affairs on November 14, 2007 H.R.2761 https://www.congress.gov/bill/110th-congress/house-bill/2761 Finance and Financial Sector Administrative procedure Armed Forces and National Security Biological warfare Casualty insurance Chemical warfare Commerce Compensation (Law) Congress Congressional investigations Congressional reporting requirements Crime and Law Enforcement Department of the Treasury Government Operations and Politics Insurance companies Insurance premiums Law Losses Nuclear terrorism Property insurance Reinsurance Terrorism Finance and Financial Sector 00 2007-11-01 Introduced in Senate 2007-12-11T22:33:31Z Terrorism Risk Insurance Program Reauthorization Act of 2007 - Amends the Terrorism Risk Insurance Act to: (1) redefine an act of terrorism; (2) extend the Terrorism Risk Insurance Program through calendar 2014; (3) modify an insurer's annual liability cap; (4) direct the Secretary of the Treasury to notify Congress within 15 days on whether estimated aggregate insured losses following an act of terrorism will exceed $100 billion; (5) require insurers to disclose to policyholders the $100 billion cap on liability; and (6) direct the Comptroller General to study and report to specified congressional committees on the availability and affordability of insurance coverage for nuclear, biological, chemical, and radiological terrorist events.

]]> 80 2007-11-01 Reported to Senate without amendment 2008-04-21T14:48:54Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Terrorism Risk Insurance Program Reauthorization Act of 2007 - (Sec. 2) Amends the Terrorism Risk Insurance Act to revise the definition of an act of terrorism for terrorism risk insurance purposes to eliminate the requirement that the individual or individuals committing a terrorist act be acting on behalf of any foreign person or foreign interest.

Extends the Terrorism Risk Insurance Program through calendar 2014.

(Sec. 4) States that no insurer may be required to make payment for insured losses in excess of its statutory deductible, combined with its statutory share of insured losses.

Requires the Secretary of the Treasury to: (1) notify Congress within 15 days of an act of terrorism on whether the Secretary estimates that aggregate insured losses will exceed $100 billion; (2) promulgate final regulations for determining the pro rata share of insured losses which exceed $100 billion; and (3) report to Congress on the process used to determine the allocation of pro rata payments when insured losses exceed $100 billion.

Requires insurers to disclose to policyholders the $100 billion cap on liability.

(Sec. 5) Directs the Comptroller General to study and report to certain congressional committees regarding: (1) the availability and affordability of insurance coverage for losses caused by terrorist attacks involving nuclear, biological, chemical, or radiological materials; (2) the outlook for such coverage in the future; (3) the capacity of private insurers and state workers compensation funds to manage risk associated with such events; and (4) whether there are specific markets in the United States with unique capacity constraints on the amount of terrorism risk insurance available.

]]> Terrorism Risk Insurance Program Reauthorization Act of 2007 Short Titles as Introduced Terrorism Risk Insurance Program Reauthorization Act of 2007 Short Titles as Reported to Senate Terrorism Risk Insurance Program Reauthorization Act of 2007 S Senate Display Title Terrorism Risk Insurance Program Reauthorization Act of 2007 Official Title as Introduced An original bill to reauthorize the Federal terrorism risk insurance program, and for other purposes. Placed on Calendar Senate 2007-11-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2285pcs/xml/BILLS-110s2285pcs.xml 2007-11-01 Placed on Senate Legislative Calendar under General Orders. Calendar No. 461. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.