NU Online News Service, Aug. 25, 3:05 p.m. EDT

WASHINGTON–Marsh is telling the Obama administration that cutting the federal terrorism risk insurance program would have a dire impact on the availability of terrorism insurance in the U.S.

Reducing the government’s potential risk from a terrorism event would “greatly reduce the availability of terrorism insurance in high-risk areas, such as business districts within major metropolitan areas,” Marsh said in a letter to the President’s Working Group on Financial Markets.

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