Terror Backstop Gets Final Approval

Thursday, November 21st, 2002 Catastrophe

Drawing applause from insurance industry representatives, the U.S. Senate ended months of wrangling and voted final approval tonight for a bill providing three years of government support for terrorism insurance. The vote, which came virtually without debate, was 86-11. All of the negative votes came from Republican senators. Many like Sen. Mike Enzi, R-Wyoming had voiced objection to the fact that in final form the measure did not contain restrictions on lawsuits brought against businesses or persons after a terrorist attack. Objections to the measure came from consumer groups, which called it an unwarranted giveaway.

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