Business Services Industry
House vote possible this week; Insurers still await action by Congress.(terrorism insurance)(Brief Article)
Business Insurance, November, 2001 by Hofmann, Mark A.
WASHINGTON-Insurers remain optimistic that Congress will pass some sort of terrorism insurance bill before the end of the year. Their hopes got a boost only days before Thanksgiving, when House Majority leader Dick Armey, R-Texas, and Financial Services Committee Chairman Mike Oxley, R-Ohio, announced that they intended to get a bill to the House floor this week.
A bill that would call upon the government to make loans to insurers facing terrorism-related losses has won the approval of both the House Financial Services Committee and the Ways and Means Committee. Insurers and others had initially hoped that a bill would reach President Bush's desk before lawmakers adjourned for their Thanksgiving recess. Although the leaders of the Senate Banking Committee...
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