Washingto--Renewed efforts by Republicans in the Senate to impose tort reform standards in any extension of the Terrorism Risk Insurance Act may complicate efforts to draft legislation keeping the reinsurance backstop in place beyond its Dec. 31 sunset.
Debate over similar concerns went down to the wire in November 2002 before the original TRIA bill was finally passed, with most of the last-minute delay caused by Republican insistence on some language curbing the ability of plaintiff lawyers to sue for punitive damages in cases arising out of a terrorism attack. On the other hand, strong tort language is a bill-killer for Democrats.
Former House Majority Leader Tom DeLay, R-Texas, held up the bill for eight hours in the waning hours of the 2002 session because he objected to its compromise tort reform language. President George W. Bush and Vice President Dick Cheney became involved in the talks before Rep. DeLay relented and allowed the bill to be taken up by the House Rules Committee.
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