Panel schedules TRIA extension hearing

WASHINGTON--The House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises will hold an April 24 hearing on the future of the federal terrorism insurance backstop, the panel announced Wednesday.

Rep. Paul Kanjorski, D-Pa., the subcommittee chairman, said in a statement that the hearing is designed so lawmakers "can examine the policy choices that Congress will need to take into account as we consider a bill that would extend and modify the Terrorism Risk Insurance Act."

The current backstop, initially created by TRIA in 2002, is slated to expire on Dec. 31.

The panel plans to announce a witness list later.