The White House will again makes its case to get Congress to tackle problems created by a shortage of terrorism insurance since the 9/11 attacks, according to The Washington Post.
President Bush is slated to meet with business leaders April 8, where he is expected to urge the Senate to address terrorism insurance legislation as lawmakers return to Washington, D.C. from their spring recess. Bush reportedly will center on the possibilities of job loss should the federal government not step in and help.
The majority of reinsurers that offer backup coverage for insurance companies halted terrorism coverage as of Jan. 1. With commercial policies rolling over, primary insurers have followed suit and put the brakes on offering terrorism coverage for large commercial policyholders.
Topics Catastrophe Natural Disasters
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