In one of the most consequential legislative victories for the Big “I” in years, President Obama signed into law a bill extending the Terrorism Risk Insurance Act (TRIA) program and establishing the National Association of Registered Agents and Brokers (NARAB II) on Jan. 12.
Just days prior during the first week of the 114th Congress, both the U.S. Senate and House of Representatives passed H.R. 26, the “Terrorism Risk Insurance Program Reauthorization Act of 2015,” by overwhelming margins. This legislation both extends the TRIA program for six years and creates a permanent NARAB.
The TRIA/NARAB II package is the first piece of legislation the President signed into law in the 114th Congress.
The Big “I” has made several resources available to Big “I” members that provide information and guidance on this new law, including a one-page NARAB II summary and two short videos in which Charles Symington, Big “I” senior vice president of external and government affairs, explains TRIA and NARAB II highlights.
Wyatt Stewart is Big “I” director of federal government affairs. John Prible is Big “I” vice president of federal government affairs.
