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Don’t Let Tort Reform Calls Sink Terrorism Reinsurance Bill

At last, the U.S. Senate lived up to its responsibility to assure economic stability in case of another terrorist attack by passing a bill to establish a federal reinsurance backstop for catastrophic terrorism losses.

We still have a long way to go before a program is actually implemented, and have no idea exactly what the legislation will look like once it makes its way through a House-Senate Conference Committee. However, you have to start somewhere, and given the fact that the House passed its version six months ago, at least negotiations on a compromise can begin at last.

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