White House supports eventual end of TRIA

The Bush administration continues to support the eventual elimination of the Terrorism Risk Insurance Act. "The president believes, in the long run, TRIA is not needed," said Allan Hubbard, director of the White House's National Economic Council, on Wednesday. However, Rep. Barney Frank, D-Mass., expects the House to pass a bill in April extending the act, which provides a backstop for insurers if losses from a terrorism attack exceed certain levels.

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