WASHINGTON–Lawmakers addressing an industry conference here revealed a division between the House and Senate over whether to approve permanent or temporary federal support for insurers against a major terrorism loss.
While both bodies favor a backstop for insurers' losses, the Senate is gearing up to pass a permanent measure, according to speakers at the legislative summit held by the Council of Insurance Agents and Brokers.
"I'm not going to do another temporary bill," advised Sen. Chris Dodd, D-Conn., the head of the Senate Banking Committee and a presidential candidate for the 2008 election. "We're either going to have a permanent bill, or we're going to move on," he vowed.
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