WASHINGTON—The P&C industry urged the House in the strongest terms Tuesday to significantly amend its version of legislation reauthorizing a federal backup for terrorism risk insurance.
In a letter to the House legislative leadership, a group of industry leaders said the House legislation contains a 500% increase in the current program's trigger "that will jeopardize the primary goal of the program."
It was seen as part of a huge lobbying push by insurance companies and insureds in the runup to consideration of the House bill by the full House next week.
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