(by Dr. Goldfinger)

The Terrorism Risk Insurance Act is said not to be extended by the Congress before adjourning.

The act expires at the end of the next year. The House of Representatives was poised to vote on TRIA on Friday. Some members objected to vote on the extension, people familiar to the matter said.

This year, the extension is unlikely to be held as the Senate has not yet marked its own version of the TRIA reauthorization bill.

The extension of the Act would provide a federal backstop for insurers facing future catastrophic terrorism losses.