In a recent Senate Banking Committee hearing, a number of Republican senators questioned the necessity of extending the Terrorism Risk Insurance Act of 2001. Committee Chairman Richard Shelby (R.-Ala.) reminded the committee that the Terrorism Risk Insurance Program had been conceived as a temporary response to the 2001 attacks. “I think we are at a point where we can determine, what, if anything more, is required of this ‘temporary’ program,” he said.

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