U.S. Sen. Joe Lieberman, the independent from Connecticut, told independent agents here last week he supports renewal of the Terrorism Risk Insurance Act and would like to see it made permanent.
"Another terror attack can come at any time, anywhere [in the United States], and the loss could cripple the American insurance industry," he said here during the Independent Insurance Agents and Brokers of America's annual Legislative Conference and Convention.
He said while he supports extension of the federal reinsurance backstop, he felt it was time for the program to be made permanent. He also said TRIA should be expanded to cover chemical, nuclear, biological and radiological events.
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