Obama signs terrorism risk insurance bill into law

By

President Barack Obama signed into law on Monday a bill that renews for six years a terrorism risk insurance program created in response to the Sept. 11, 2001, attacks, the White House said.

The program provides a federal insurance backstop for owners of skyscrapers, sports stadiums, shopping malls and large projects that could face terrorism threats.

The law also includes measures that exempt ranchers, energy businesses and other "end users" of derivatives from certain capital requirements that are part of the 2010 Dodd-Frank financial reform law.

White House spokesman Josh Earnest told reporters the administration was disappointed the bill included the unrelated measures, but he had acknowledged that Obama would sign the bill anyway.

Tags
Barack Obama, Terrorism, Josh Earnest
Join the Discussion
More News
James Shirah

Groom To Spend 30 Years in Prison for Murdering Best Friend After Alcohol-Fueled Argument on Wedding Night

Shooting

Gunman Fire 50 Shots Along Cambridge's Memorial Drive, Victims Suffer Life-Threatening Injuries

Police Car

Parents Face Two Years in Prison After Locking Children in 'House of Horrors' To Protect Them From COVID-19

Aaron Brown Myers

Off-Duty Security Guard Who Shot and Killed 17-Year-Old Boy as He Laid on the Ground Found Guilty of Murder