Insurer Legislative Outlook Gloomy

Monday, March 11th, 2002 Legislation & Regulation

Most top insurance industry officials doubt Congress will establish a federal terrorism reinsurance mechanism this year and a third don't even believe such a program would boost terrorism capacity to any great extent, a survey here revealed. Seventy percent of those responding to a survey at yesterday's Property/Casualty Insurance Joint Industry Forum said, under current circumstances, Congress would not pass legislation this year establishing federal participation in terrorism coverage. On an even more pessimistic note, 35 percent said that even if such a bill should pass, it would not "significantly increase the availability of terrorism coverage."

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http://www.nationalunderwriter.com/archives/Pc_archive/2002/P01-21/P200203insurer_legislative.asp

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