Washington–Both opponents and advocates of extending the Terrorism Risk Insurance Act voiced positive sentiments after Congress passed the measure over the weekend.
The legislation, which provides federal supports for certain levels of terrorism losses by insurance companies, "will allow businesses and our economy to continue to grow as we fight the war on terrorism," said Ernie Csiszar, president and chief executive officer of the Property and Casualty Insurers Association of America.
"TRIA is an essential part of our nation's economic success in the post-September 11th world. The public/private partnership that TRIA established is vital to American businesses that need protection from the enormous economic losses that can result from this new and unprecedented risk," said Mr. Csiszar.
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