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Terrorism Bill Faces Obstacle Course

Washington

Legislation creating a federal backstop in the terrorism insurance market remained at a standstill in the Senate last week despite a new Joint Economic Committee report saying that a “temporary” and “limited” program “appears to be appropriate.”

Industry sources, who asked not to be identified, told National Underwriter that while tort reform is often identified as the stumbling block in the Senate, some Republican leaders are still voicing skepticism over the underlying bill, questioning whether a federal government role in the terrorism insurance market is necessary.

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