The bill was cleared for House floor action on Dec. 6.

"The indication we have from them is 'take it or leave it,' but that's not going to happen," the representative for Rep. Ackerman quoted the congressman as saying. "We hope that this is sufficient and they accept it, but realistically the clock is running."

Specifically, the compromise that will be proposed will accept the Senate's seven-year time limit for extension, while dropping language in the current House bill that would have added coverage for nuclear, biological, chemical and radiation events.

However, the House will demand that the Senate accept its "reset" provision, which benefits areas that have suffered prior terrorist attacks, as well as reduce the trigger for federal involvement from the Senate's $100 million to the House's $50 million.

It will also add coverage for group life, as well as include a provision limiting the cases where a life insurer can deny coverage to an applicant based on the applicant's travel plans.

It will also accept the accelerated "pay-back" provisions included in the Senate bill.

Charles M. Chamness, president and chief executive officer of the National Association of Mutual Insurance Companies, said his group is "encouraged" that Rep. Barney Frank, who chairs the House Financial Services Committee, is advocating a terrorism insurance backstop program that includes both a lower trigger level and does not include mandatory make-available coverage for weapons of mass destruction.

"The continuation of the program is vital to our nation and our markets," Mr. Chamness said.

He noted that lowering the trigger level to $50 million and eliminating the NBCR mandate contained in the first House bill will allow medium- and smaller-sized insurers to participate in the program.

"We anticipate the House and Senate will resolve their few remaining differences before the current legislation expires on Dec. 31, as we know they understand the urgency of adopting a program," Mr. Chamness said.