Washington–Legislation extending the Terrorism Risk Insurance Act being crafted by the Republican majority staff of the House Financial Services Committee will likely call for ending the federal backstop for commercial auto and general liability coverage, it was learned.
Sources said ending coverage for commercial auto and general liability coverage would be a bow to the Bush administration, whose recent guidelines for extending TRIA coverage suggested such an omission.
But it likely will call for coverage of group life insurance, according to several lobbyists briefed on the committee's plans.
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