While voicing "skepticism" over the utility of the Terrorism Risk Insurance Act (TRIA), the Consumer Federation of America voiced measured support for Senate legislation that would extend the program for another seven years.
It lauded provisions of the legislation which phases in a one-third increase in the co-pay of insurers over five years: the so-called "skin in the game."
"While CFA believes that this federal backstop should be reduced even more aggressively, we commend the bipartisan sponsors of this legislation," the CFA statement says. "We urge the House to take up a similar and even stronger approach and address the inefficiencies and unwarranted subsidies of the current system."
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