As the December 31, 2014 expiration of the Terrorism Risk Insurance Act inches closer, both chambers of Congress are moving forward with their version of a long-term extension.

The Senate is expected to pass its version of an extension as early as Thursday while the House Financial Services Committee approved its version of an extension along party lines on June 20^th. The House proposed extension would make substantial changes to TRIA that can be seen in the following table:

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