Responding to the need by National Association of Mutual Insurance Companies (NAMIC) members and the industry for late breaking information regarding the terrorism debate on Capital Hill, and because NAMIC believes that it is highly likely that legislation will be enacted this week to create a federal backstop for terrorism insurance, the organization has formed a “Terrorism Re” channel. The new channel is accessible via NAMIC Online (www.namic.org).
Companies need to stay on top of this issue because specific action will be required once a law is passed, according to Pam Allen, NAMIC’s vice president-federal affairs.
“There is an extremely short timeframe for this legislation to be passed by Congress, signed by the President and implemented by the Treasury Department and the industry,” according to Allen. “It is important for companies to keep informed of new developments.”
The channel will be updated whenever there is a late-breaking, important development that NAMIC members need to know about, and visitors to the channel can register to receive email alerts.
The channel details the debate on Capitol Hill regarding terrorism reinsurance and also provides links to a “Q&A” for both the House and Senate versions of the Bill.
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