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Trade
Associations Form Coalition to Insure Against
Terrorism
by PIA
Insurance Services
February
25, 2002
Trade
associations and individual businesses have
united to bring a message to Congress,
specifically that there needs to be a federal
backstop for losses stemming from terrorist
acts. The newly formed Coalition to
Insure Against Terrorism consist of
associations representing the transportation,
real estate, manufacturing, construction,
entertainment and retail sectors of the U.S.
economy, groups ranging from the National
Association of Manufacturers to the National
Football League. The coalition will ask
Congress to create a plan that will give
insurers the means and incentive to provide
coverage for terrorist acts in commercial
policies. The message the coalition will
take to Congress is two-pronged: The
lack of terrorism coverage in commercial
policies weakens the economy and poses a
threat to the nation's security.
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