A joint committee hearing next month will examine the need for a permanent federal backstop to cover catastrophic terrorism insurance losses, risk managers were told here as they gathered to lobby Congress on the issue.

The decision to hold a joint session of the House Financial Services Committee Oversight & Investigations Subcommittee, and the Homeland Security Committee Intelligence, Information Sharing and Terrorism Risk Assessment Subcommittee comes after pressure from insurance interests.

Plans for a hearing were disclosed by an insurance company lobbyist as the Risk and Insurance Management Society was meeting here last week. RIMS held a panel discussion on "TRIA--The Final Defense" as part of the annual "RIMS on the Hill" event, which brings the group's members to Washington to lobby lawmakers.

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