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Washington–The Bush administration believes the U.S. government should not continue providing a backstop for terrorism insurance much longer, a Treasury official discussing the Terrorism Risk Insurance Act told National Underwriter.

“We are committed to the notion that the Terrorism Risk Insurance Act was and is a temporary program, and we believe that the private market will adjust better if the government can get out of the way,” said Emil W. Henry Jr., new assistant secretary of the Treasury for financial institutions.

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