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Property-casualty insurance industry trade groups recently voiced general support for legislation continuing government support for insurers in the event of a terrorist attack–a measure the Senate Banking Committee is expected to approve very soon.

Joel Wood, senior vice president for government affairs at the Council of Insurance Agents and Brokers, in a note to CIAB members wrote that “although much uncertainty remains,” a Senate compromise reached last week on the legislation extending the Terrorism Risk Insurance Act for seven years “does significantly move the ball down the field.”

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