Group Skeptical Of Terrorism Reinsurance Program Renewal

Law360, New York (May 8, 2013, 7:04 PM EDT) -- The Consumer Federation of America on Wednesday fought back against the insurance industry's campaign to renew a federal terrorism reinsurance program established under the Terrorism Risk Insurance Act, urging Congress to be skeptical about claims that the insurance industry can't afford to go on without the backstop.

The insurance industry has been pushing to extend a federal program that provides reinsurance coverage for up to $100 billion in terrorism-related losses. For now, the backstop, which had been reauthorized in 2005 and 2007, is set to expire...
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