U.S. Closes In on Terror Pool.(terrorism insurance pool planned; proposed tax policy to benefit insurers)(Brief Article)(Statistical Data Included)

Best's Review, November, 2001 by Kelly, Dennis; Pilla, David

The Insurance industry is encouraged by the White House plan for a federally backed reinsurance pool; economic-stimulus proposal includes insurers.

Insurance industry advocates are cautiously optimistic that Congress and the Bush administration are moving toward a plan that would shield the industry from some of the costs of any future terrorist attack.

David Farmer, a spokesman with the Alliance of American Insurers, said reports of a three-year terrorism insurance plan developed by the Treasury Department and the White House "are encouraging," even though the plan is "somewhat different" from what industry representatives had been pushing.

"We think this is a positive development," Farmer said. "Hopefully, this will mean we'll have a...

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