Terror insurance hearing heads to NYC

[Joanne98]

Terror insurance hearing heads to NYC
Staff and agencies
04 March, 2007

By LARRY McSHANE, Associated Press Writer 1 hour, 32 minutes ago

NEW YORK - A hearing this week just blocks from the World Trade Center site is aimed at determining whether the federal government will extend its terrorism property insurance program that is due to expire at the end of the year.

New York officials are among those who have pleaded for a continuation.

The federal Terrorism Risk Insurance Act was enacted 14 months after the Sept. 11, 2001, attacks that toppled the trade center‘s twin towers.

Sen. Ch, , ) said the insurance act, which reimburses insurers up to $100 million if foreign terrorists attack again, should be extended for at least 15 years. It was initially due to expire at the end of 2005, but it was extended for two years.

Critics have complained the federal intervention was an unnecessary favor to the insurance industry.

http://www.localnewsleader.com/olberlin/stories/index.php?action=fullnews&id=71187

NO WELFARE for the rich insurance criminals.

[happydreams]

1. J. Paul Bremer and "Marsh Consulting" made some big

bucks off of this.







www.usyd.edu.au/contretemps/4september2004/Cooper.pdf

[high density]

2. Insurance companies want premiums but they can't seem to accept any risk

I guess somebody needs to remind them as to what service their industry is supposed to provide. I don't know why the federal government should be expected to bail them out.

[rec_report]

3. Right, no welfare is acceptable to the Bush regime unless it's...

corporate welfare.