Hope Lives For Terrorism Re Bill In 2002

Washington

What happens both in the world and in the insurance marketplace over the next few weeks will determine whether Congress will seriously revisit the terrorism reinsurance issue when it reconvenes on Jan. 23, industry experts agree.

Rodger Lawson, president of the Alliance of American Insurers in Downers Grove, Ill., said two things could happen that would force Congress to move quickly on terrorism reinsurance. The "horrible scenario," he said, would be if another major terrorist event occurs and people are left without coverage. Congress, he said, would have to acknowledge that it made a terrible mistake by not putting a system in place when it had the chance.

Another possibility, he said, is that one of the major upcoming events, such as the Super Bowl or the Winter Olympics, is affected by a lack of access to terrorism insurance. If that happens, he said, the message will be brought home to members of Congress.