The Republican majority of the House Financial Services Committee won't support a simple extension of the Terrorism Risk Insurance Act, and is instead drafting proposals calling for far less of a federal backstop.
The leadership of the committee is acting in the face of adamant opposition from House Majority Leader Rep. Tom DeLay, R-Tex., and the Bush administration.
In the face of that, committee staff of the House Financial Services Committee will outline to lobbyists next week two alternative proposals, a source close to the committee said late today.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
