WASHINGTON–Lawmakers are expressing an interest in a long-term solution to the problem of insuring against terrorism risk, making their concerns known through letters to the Treasury and by scheduling a joint committee hearing.
The Treasury Department houses The President's Working Group on Financial Markets, which has been charged with producing a report on the terrorism insurance market by September.
Several members of the House, including Reps. Sue Kelly, R-N.Y., Spencer Bachus, R-Ala., Rob Simmons, R-Conn., Pete Sessions, R-Texas., and Richard Baker, R-La., have written to the Treasury to express concerns over such areas as the availability of reinsurance and nuclear, chemical, biological and radiological attack coverage (NCBR), and the role of the federal government in ensuring that coverage is available and affordable.
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