WASHINGTON–The Senate today whisked through without comment legislation extending the federal backstop for insurers' terrorism risk for 7 years, through 2014.
The decision, through a unanimous consent procedure, represents a virtual barebones extension of the current legislation, the Terrorism Risk Extension Act of 2005.
It sets up a confrontation with the House, whose leadership insists that at least some of the provisions of its more expansive legislation be included in the final bill.
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