Washington
The U.S. Senate passed by unanimous consent its version of legislation extending the Terrorism Risk Insurance Act for two years. The bill, providing insurers with a federal backstop for terrorism losses, is markedly different than companion legislation passed earlier in the week by the House Financial Services Committee.
The Senate bill, approved early in the morning of Nov. 18, cuts back on coverages, while the House bill expands coverage==specifically for group life insurance.
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