WASHINGTON—The insurance industry, supported by more than 400 trade groups representing all types of businesses, sent a letter late yesterday urging the House to “move swiftly” in passing legislation that would reauthorize the federal backstop for terrorism risk insurance.
“We write to you today to urge the House to move forward in reauthorizing this critical program as soon as possible,” the letter said.
The letter notes that the “tragic” terrorist attacks on 9/11 “fundamentally changed the landscape” for insuring against the risk of terrorism in the U.S.
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