Financial Services Industry
Industry: Email Alert RSS FeedInsurers pessimistic about help from Congress: lobbyists believe little time is left to act on key industry concerns, such as TRIA.(Washington Outlook)
National Underwriter Property & Casualty-Risk & Benefits Management, September, 2004 by Postal, Arthur D.
THE PROPERTY-CASUALTY insurance industry will be playing "small ball" during what little time is left in this session of Congress, with any expectation of concrete action over the next six weeks centering on a tax provision that will provide certainty for some small mutual insurers. Hopes, however, are slim for "big-dollar" legislation, industry lobbyists say.
These big legislative priorities, which have been fought over on Capitol Hill for some time, include establishing an alternative claims-processing mechanism for asbestos injuries and extension of the Terrorism Risk Insurance Act, along with malpractice and class-action reform. Another huge industry issue is the regulatory modernization legislation being drafted in the House Financial Services...
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