Insurance industry trade groups are urging Congress to movequickly for a compromise that reconciles rival measures to extendthe federal terrorism insurance backstop that were approved inHouse and Senate committees yesterday.
Meanwhile, the Consumer Federation of America voiced moderatesupport of the Senate bill, but harshly criticized the Housemeasure as one that would put an additional burden on taxpayers andconsumers.
J. Robert Hunter, director of insurance for the CFA, wasparticularly critical of language in the House legislation thatpre-empted the current ability of states to regulate terrorisminsurance rates and forms.
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