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Insurer Legislative Outlook Gloomy New York

Most top insurance industry officials doubt that Congress will establish a federal terrorism reinsurance mechanism this year, and a third dont even believe such a program would boost terrorism capacity to any great extent, a survey here revealed.

Seventy percent of those responding to a survey at last week’s Property/Casualty Insurance Joint Industry Forum said that under current circumstances, Congress would not pass legislation this year establishing federal participation in terrorism coverage.

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