Business Services Industry

Observers perplexed by U.S. inaction on terror cover; NCCI issues symposium.(Brief Article)

Business Insurance, May, 2002 by Fletcher, Meg

ORLANDO, Fla.-The U.S. Senate's failure to adopt a proposed federal backstop for insurer losses from future terrorist attacks is frustrating many representatives of the workers compensation industry. Insurers are ``guardedly hopeful'' that there may be progress soon on such a measure, NCCI Interim President and Chief Executive Officer Chapin Clark said at the NCCI's annual meeting in Orlando earlier this month.

Privately, though, several attendees at the meeting questioned whether federal relief for insurers would ever become a reality. The measure currently is stalled in the Senate over efforts to couple it with tort reform. Many key industry representatives find the lack of progress particularly galling because there is broad-based support for a federal...

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