Terrorism Risk Insurance Amendment

Description

The Coburn amendment would give flexibility for collecting mandatory increased premiums in the event of more than $1 billion in losses due to terrorism. ACU supported the amendment, agreeing with Coburn that the bill is so unrealistic concerning premium collection that the taxpayers would ultimately foot the bill for losses. The Senate defeated a procedural motion that would have allowed a vote on the amendment on July 17, 2014 by a vote of 48-49 (60 votes were necessary to pass).