Goodlatte Statement at Markup of the "CAPTIVE Act" - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
April 28, 2016 Newswires
Share
Share
Post
Email

Goodlatte Statement at Markup of the “CAPTIVE Act”

Congressional Documents & Publications

Chairman Goodlatte: I would like to begin by thanking Representative Posey and Judiciary Committee Members, David Trott, Ted Deutch, Hank Johnson, and Randy Forbes for introducing this bipartisan legislation.

The CAPTIVE Act makes two small, but important changes to section 201 of the Terrorism Risk Insurance Act to make it easier for U.S. victims of terrorism to recover court-awarded damages from the perpetrators of terrorism.

Under current federal law, victims of terrorism may satisfy a court-awarded judgment they have against a terrorist party out of any assets of that terrorist party that the federal government has frozen pursuant to the Trading with the Enemy Act or the International Emergency Economic Powers Act. The CAPTIVE Act amends this provision to provide that assets frozen by the federal government pursuant to the Foreign Narcotics Kingpin Designation Act are also available to satisfy judgments against terrorist parties.

This is an important change to the law in cases involving narco-terrorists, like the FARC, that may be cross-designated as both terrorists and drug kingpins. In cases involving narco-terrorists, the group may be designated as a terrorist organization, but its assets may be frozen under the Kingpin Act thus preventing terrorism victims from satisfying their judgments against those assets.

This is more than a hypothetical problem. Several weeks ago, I met with some of the victims, and family members of the victims, of a 2003 FARC terrorist attack. On February 13, 2003, Keith Stansell, Marc Gonsalves, Thomas Howes, and Thomas Janis were flying over Colombia while performing counter-narcotics reconnaissance for the Department of Defense. Members of FARC shot their plane down and, after the plane crash landed, FARC captured the group. FARC immediately executed Thomas Janis--a Vietnam Veteran, Bronze Star recipient, and former member of Delta Force. They took the other survivors hostage, holding them in captivity for over five years during which time they were tortured, starved, and suffered through repeated mock executions.

After they were rescued and returned to the United States, the survivors and Janis's family successfully brought suit against the FARC under the Anti-Terrorism Act. However, because blocked Kingpin Act assets are not covered under section 201 of the Terrorism Risk Insurance Act, this group of victims has found it nearly impossible to satisfy their judgment.

It makes little sense for the law to reach terrorist organizations like the FARC, but then prevent the victims from executing on FARC assets merely because the Executive Branch blocked these terrorist assets under the Kingpin Act. The CAPTIVE Act fixes this problem.

In addition, to make section 201 consistent with the civil liability provision in the Anti-Terrorism Act and the state sponsored terrorism exception to the Foreign Sovereign Immunities Act, the CAPTIVE Act defines the term "person" as limited to U.S. nationals, members of the armed forces, and U.S. government employees and contractors. This change will prevent foreign nationals, who Congress has specifically excluded from the ATA and state-sponsored terrorism Foreign Sovereign Immunities Act cases, from depleting the limited pool of blocked assets available to U.S. terrorism victims.

I urge my colleagues to support this bi-partisan legislation to provide victims of narco-terrorism some measure of financial justice against the terrorist groups that have caused them harm.

For more on today's markup, go to: https://judiciary.house.gov/markup/markup-april-27/.

Read this original document at: https://judiciary.house.gov/press-release/goodlatte-statement-markup-captive-act/

Older

Combine Solicitation – Physical Therapy Services

Advisor News

  • Americans aren’t turning retirement plans into action, LIMRA finds
  • Ashley Hinson ‘death tax’ story collides with truth
  • How advisors can prepare clients for an uncertain retirement landscape
  • Investors aren’t waiting out uncertainty
  • Transamerica and Advo(k)ate Advisors launch pooled employer plan
More Advisor News

Annuity News

  • Corebridge annuity sales slip ahead of Equitable marriage
  • California teachers settle class-action lawsuit over in-plan annuity fees
  • Jackson Financial CEO caps 40-year career with blockbuster Q2
  • Lumos Insurance introduces the Immediate Care Plan to help families fund long-term care
  • NAIC regulators begin consensus phase on annuity illustration overhaul
More Annuity News

Health/Employee Benefits News

  • 3 summer sales habits that build next year’s pipeline
  • ADMINISTRATION POLICIES GO BEYOND 2025 REPUBLICAN RECONCILIATION LAW, DEEPENING ITS HARM
  • STATE LEGISLATIVE SESSIONS HIGHLIGHT CHOICE BETWEEN PROTECTING COVERAGE AND DEEPENING HARM AFTER FEDERAL MEDICAID CUTS
  • ICYMI: WISCONSIN ATTORNEY GENERAL JOSH KAUL JOINS LAWSUIT CHALLENGING NEW FEDERAL RULE GOVERNING AFFORDABLE CARE ACT HEALTH PLANS FOR 2027
  • Coverage for nonprofit staff in sight
More Health/Employee Benefits News

Life Insurance News

  • HEALEY-DRISCOLL ADMINISTRATION RETURNS $14.5 MILLION TO HEALTH AND DENTAL INSURANCE CONSUMERS AND BUSINESSES
  • ‘Uniquely positioned’: Equitable outlines future post-Corebridge merger
  • Don't keep checks with clerical errors
  • The insurance distributor that builds its own software will win the next decade
  • iA Financial Group Reports Second Quarter Results
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Royal Neighbors Unveils Its 2026 Scholarship Recipients 2026 Royal Neighbors Scholars Making a Difference Across the Country
  • Ibexis Announces Expanded Bank Relationships and New Index Options for FIA Plus® and WealthDefender® Series
  • Agent Review Launches Video AI Identity Verification to Help Protect Insurance Professionals, Consumers and Public Trust
  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet