Insurers fail to win TRIA extension.(Washington Roundup)(Terrorism Risk Insurance Act of 2002)

National Underwriter Property & Casualty-Risk & Benefits Management, October, 2004 by Postal, Arthur D.

WHILE ACTION IN THE HOUSE to extend the Terrorism Risk Insurance Act was possible as this edition went to press, opposition in the Senate remains a roadblock, killing any hope of sending a TRIA bill to President George W. Bush before Congress adjourns to campaign. However, the industry remains hopeful that a TRIA bill can win approval in a lame-duck session expected after Election Day.

"We will be unable to get the legislation through the Congress this week because there is just not enough time," Julie Gackenbach, a lobbyist for the Property Casualty, Insurers Association of America, said on Oct. 7. "But we are hopeful that we can get a bill through the House today because that will give us some momentum going into the lame-duck session after the election...

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