AIA Comments on Terror Bill Passage

Robert E. Vagley, President of The American Insurance Association, on Friday issued the following statement regarding the House passage of the Federal Terrorism Insurance Backstop legislation: "We applaud the members of the U.S. House of Representatives for their unanimous voice vote to create a federal terrorism insurance backstop -- a critical component of a secure American economy. The new, post-September 11 terrorist threat has dramatically changed the property-casualty insurance marketplace. Since the beginning of this legislative effort more than one year ago, the shared g...