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Terror bill opportunity fading; Disagreement on punitive damages holding up compromise.(News)(terrorism insurance claims)
Business Insurance, October, 2002 by Hofmann, Mark A.
Byline: MARK A. HOFMANN WASHINGTON-Even if negotiators manage to resolve differences over how punitive damages should be addressed under terrorism insurance legislation, Congress' ability to approve such a measure before it adjourns remains an open question. Still, insurance industry proponents of the bill refuse to throw in the towel, holding out hope that the 107th Congress could yet approve a compromise measure that would have the federal government act as a backstop to private insurers in the event of a future terrorist attack.
Both houses have passed their own versions of terrorism insurance legislation, but they differ significantly, particularly in regard to what sorts of liability property owners found negligent in the wake of a terrorist attack...
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