AAI Applauds House Passage of Terrorism Bill; Encourages Senate to Follow Suit

Alliance of American Insurers President Rodger Lawson released a statement following the passage by the House of the Terrorism Risk Protection Act Conference Report (HR 3210):

“The Alliance of American Insurers is very pleased with the action taken by the House, and we are hopeful the Senate will follow suit.

“We recognize that without the strong support of President Bush, who has championed this legislation, we would not be where we are today.

“We also want to recognize the leadership of Rep. Mike Oxley, who authored the bill, as well as Sen. Chris Dodd, as major forces for its success.

“We believe this action will create stability in reinsurance markets, and will be very helpful for insurance markets and the overall economy.”