Washington–Both opponents and advocates of extending theTerrorism Risk Insurance Act voiced positive sentiments afterCongress passed the measure over the weekend.
The legislation, which provides federal supports for certainlevels of terrorism losses by insurance companies, "will allowbusinesses and our economy to continue to grow as we fight the waron terrorism," said Ernie Csiszar, president and chief executiveofficer of the Property and Casualty Insurers Association ofAmerica.
"TRIA is an essential part of our nation's economic success inthe post-September 11th world. The public/private partnership thatTRIA established is vital to American businesses that needprotection from the enormous economic losses that can result fromthis new and unprecedented risk," said Mr. Csiszar.
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