Financial Services Industry
Industry: Email Alert RSS FeedTRIA extension gains momentum in Congress.(Washington Update)(Terrorism Risk Insurance Act)
National Underwriter Property & Casualty-Risk & Benefits Management, September, 2004 by Postal, Arthur D.
MOMENTUM CONTINUES TO grow in Congress for passage this year of legislation extending for two years the Terrorism Risk Insurance Act. A markup on enabling legislation is scheduled for Sept. 29 before the full House Financial Services Committee, and broad bipartisan support is expected. The plan is then to move the bill through the House within the subsequent 10 days, under an accelerated procedure known as the suspension calendar, according to Julie Gackenbach, assistant vice president of government relations at the Des Plaines, Ill.-based Property Casualty Insurers Association of America.
Rep. Mike Oxley, R-Ohio, chairman of the panel, indicated that enactment of the bill had become a priority for his panel. "Rep. Oxley, by moving this quickly through the...
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