# AIA, Alliance Draft Reinsurance Pool Proposals 

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Although there is no formal legislation, insurance groups are starting to draft proposals for creating a federal government reinsurance pool covering terrorism risks, the National Underwriter has learned.

The Washington-based American Insurance Association and Downers Grove, Ill.-based Alliance of American Insurers are floating similar, but separate proposals to create a reinsurance mechanism that would be funded by premiums paid by policyholders.

The goal is to reestablish the availability of reinsurance for terrorism risks, which has dried up substantially since the Sept. 11 terrorist attack on the United States.

Ann W. Spragens, general counsel and senior vice president with the Alliance, said that Alliance member companies are already finding all individual risk facultative reinsurance contracts have terrorism exclusions.

Sources:
- National Underwriter (http://www.nationalunderwriter.com/archives/Pc_archive/2001/P10-01/P200140aia.asp)