WASHINGTON–Compromise language has been proposed by a joint insurance industry/policyholder group that is likely to narrow the gap between large and smaller insurers over details of legislation extending insurers' terrorism protection.

At the same time, language in the insurance trade group/policyholder group proposal regarding chemical, nuclear, biological and radiological risk is still likely to make the smaller insurers “uncomfortable,” several industry lobbyists familiar with the rift said.

The compromise for a measure extending the Terrorism Risk Insurance Act is being proposed by the American Insurance Association and the Coalition to Insure Against Terrorism.

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