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Big “I” Comments on Draft House Terrorism Insurance Bill

Legislation would extend TRIA program for five years.

WASHINGTON, D.C., June 13, 2014 — The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) today released the following statement by Charles Symington, Big “I” senior vice president of external and government affairs:

“The Big ‘I’ welcomes the new draft terrorism insurance legislation by House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Insurance Subcommittee Chair Randy Neugebauer (R-Texas). This legislation demonstrates the House Financial Services Committee’s commitment to reauthorizing the TRIA program, as it is critically important to the U.S. economy. The five year reauthorization, in particular, is welcome news as the Big ‘I’ strongly supports a reauthorization of at least that length. We look forward to working with the House Financial Services Committee on this legislation and are also hopeful that NARAB II will be incorporated into the TRIA bill as it moves through Committee.”

Founded in 1896, the Big “I” is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of approximately a quarter of a million agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life, health, employee benefit plans and retirement products. Web address: www.independentagent.com.

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