Terrorism Risk Insurance Extension Act of 2005

[AI summary unavailable — showing source text] Terrorism Risk Insurance Extension Act of 2005 - Amends the Terrorism Risk Insurance Act of 2002 (TRIA) to extend the terrorism risk insurance program from 2005 through 2007. Defines "Program Year 4" as calendar 2006 and "Program Year 5" as calendar 2007. Extends coverage for insured losses under a policy issued during Program Year 5 through December 31, 2008, at the latest. Increases the insurance marketplace aggregate retention amount for Program Years 4 and 5. Directs the Secretary to apply TRIA to providers of group life insurance. Instructs the Presidential Working Group on Financial Markets to report to Congress its recommendations for legislation to address the long-term availability and affordability of insurance for terrorism risk.…