"The lack of a federal terrorism backstop has resulted in financiers' reluctance to lend and businesses' reluctance to invest. The delay in Congressional action has resulted in construction projects of vital importance to the national economy being put on hold or abandoned all together," Mr. Larkin said.

He added that NCOIL's position supporting a federal backstop was formalized in a resolution in November 2001, and since that time the organization has collected and forwarded to Congressional leaders insurance marketplace evidence that such legislation was necessary.

"NCOIL understands and appreciates there are divisive provisions in each of the two bills that the Conference Committee must reconcile," Mr. Larkin said. "However, NCOIL believes the enactment of a viable solution to provide a federal terrorism insurance backstop should not be held hostage by these secondary issues."

Mr. Larkin added that "enactment will provide limited protection to the banking and insurance industries from catastrophic losses that would adversely affect the American consumer, and would ensure the availability of insurance coverage for American consumers."

Legislators active in NCOIL either chair or are active members of the committees responsible for insurance in their respective legislative houses across the country.