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Terror bill hopes renewed; Senate vote expected on federal backstop proposal.(Terrorism Risk Insurance Act of 2002, US Senate bill-S. 2600)(Brief Article)
Business Insurance, June, 2002 by Hofmann, Mark A.
WASHINGTON-Advocates of terrorism insurance legislation are growing increasingly optimistic that the Senate will pass its long-delayed bill this week. In fact, Senate Majority Leader Tom Daschle, D-S.D., filed a cloture motion Friday morning that would cut off debate on the bill and take it to a vote.
Observers expect the cloture vote Tuesday, with a vote on the legislation to follow if cloture succeeds. Enactment of legislation that would allow the federal government to act as a backstop to private insurers in the event of future terrorist attacks is still not a done deal, though. Any Senate bill would have to be reconciled with a measure approved by the House last November, and the two bills take widely different approaches to the matter. The House bill...
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