(Bloomberg) — Renewal of a U.S. terrorism insurance plan is gaining momentum in Congress, thanks to some big-league backing from a coalition that includes professional football, baseball, basketball and hockey leagues.
The sports associations, along with insurers, developers, banks and the U.S. Chamber of Commerce, say their businesses could be wiped out by a Sept. 11-style attack, unless the U.S. government continues its program to help protect them against losses from terrorism.
Now they see improving odds for passing a measure extending the financial backstop for the insurance before it expires Dec. 31.
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