Business Services Industry
Calls for TRIA extension growing louder in Senate; But bill, introduced in July, still awaits markup.(News)(Terrorism Risk Insurance Act of 2002)
Business Insurance, September, 2004 by Hofmann, Mark A.
Byline: MARK A. HOFMANN WASHINGTON-Senate interest in extending the government's terrorism insurance program may be on the upswing. Nearly every member of the Senate Banking, Housing and Urban Affairs Committee who participated in a hearing last week concerning the state of the insurance industry voiced support for reauthorizing the federal financial terrorism insurance backstop created by the Terrorism Risk Insurance Act.
The federal program, which would help private insurers cover losses stemming from a future catastrophic terrorist attack, is slated to expire at the end of next year. Insurers, policyholders, brokers and others have called for an extension of the program through at least the end of 2007. The House has already heeded that call. The House...
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