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Congress Puts States

On The Spot On Terrorism

Now that Congress has failed to pass legislation providing insurers with the federal backstop they need to write terrorism coverage, the spotlight has shifted to state regulators.

While there’s still hope that Congress will act next year, it will be too late to affect Jan. 1 renewals. Since Congress irresponsibly adjourned for the year without settling this crucial issue, thus leaving policyholders to their fate, it is up to state insurance commissioners to maintain an orderly market. We wish them luck.

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