TRIA renewal no slam dunk in Congress.(ILL WINDS BLOWING)(Terrorism Risk Insurance Act of 2002)

National Underwriter Property & Casualty-Risk & Benefits Management, May, 2005 by Postal, Arthur D.

THE FATE OF THE TERRORISM RISK Insurance Act is still very much up in the air, based on the skeptical attitudes of key leaders in both houses of Congress. Sen. Richard Shelby, R-Ala., who chairs the Senate Banking Committee, said Congress should very carefully consider the need to extend TRIA--due to expire on Dec.

31--and what form that extension should take, if any. The comments of Sen. Shelby were interpreted by one industry lobbyist as supporting the position of Rep. Tom DeLay, R-Texas, the House majority leader. Rep. DeLay has argued that Congress should look at a long-term solution involving a federal backstop specifically for nuclear, biological, chemical and radiation risks, but rejects extending the current program for two more years to cover other...

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