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Washington–With the clock winding down on expiration of the Terrorism Risk Insurance Act, the House of Representatives late yesterday proposed accepting the bulk of a narrower Senate extension bill, a move that will please the White House and likely result in passage of compromise legislation this week, the National Underwriter has learned.

The concessions were contained in a document submitted to Senate negotiators by the staff of the House Financial Services Committee in preparation for the opening of talks today on a compromise bill. Rep. Mike Oxley, R-Ohio, chairman of the House Financial Services Committee, and Sen. Richard Shelby, R-Ala., chairman of the Senate Banking Committee will meet to negotiate the final details.

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