I can't help but feel perplexed over the argument by some that the federal government shouldn't be involved in providing insurance for terrorism exposures.
The Bush administration wanted the Terrorism Risk Insurance Act to quietly expire last year, and only grudgingly went along with a two-year extension. The argument that another catastrophic attack could undermine the insurance industry and the economy it supports fell on deaf ears. Critics believe TRIA gives the industry an excuse not to develop its own solutions. They don't believe insurers when they say this is an exposure they cannot rationally predict, price or assume.
This administration keeps reminding us we are at war. But at a time when we should pull together to defend against an evil menace, the president believes not even a government partnership with the private market is warranted.
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