Title: Terrorism Risk Insurance Extension and Modification
Vote Smart's Synopsis:
Vote to pass a bill that extends and modifies the Terrorism Risk Insurance Program through 2014.
Widens the definition of an "act of terrorism" to any individual regardless of nationality or interest (Sec. 2).
Establishes a $100.00 billion cap on insurance policies (Sec. 4).
Requires the Comptroller General to submit a report to Congress no later than one year after the enactment of this bill recommending whether it is "appropriate to expand the availability and affordability of insurance for nuclear, biological, chemical, or radiological terrorist events" (Sec. 5).
Expands program coverage to group life insurance companies (Sec.6).
Lowers the amount at which the federal government would begin to share partial financial responsibility from terrorist attacks in 2007 from $100.00 million to $50.00 million (Sec. 9).