Congress would be doing the nation an economic injustice ifit fails to renew an federal backstop for terrorisminsurance, Rep. Michael G. Oxley, R-Ohio, told an insuranceindustry meeting this week.

"It would be a travesty of enormous proportions for our economyshould we not be able to extend TRIA," he told an audience ofinsurers and reinsurers at the annual meeting of the PropertyCasualty Insurers Association of America (PCI) in Chicago..

The terrorist attacks of Sept. 11, 2001, he noted, "did morethan murder thousands of people. The attacks drained the insuranceindustry's surplus and threatened both marketplace solvency and ourcountry's economy."

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