A major brokerage group said it will offer a proposal for a terrorism reinsurance facility to an insurance industry meeting on terrorism tomorrow in Washington.
The proposal from Chicago-based Aon Corp. is to create a mandatory terrorism reinsurance facility funded by the private sector that would have the federal government pay all costs above $40 billion and up to $100 billion for a single event.
Aon's Re Services unit said it will propose the private-sector solution at tomorrow's National Symposium on Terrorism Risk Insurance at the Cannon House Office Building.
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