Treasury head stresses opposition to Terrorism Insurance Act renewal

07/14/2005 | GlobeSt.com

U.S. Treasury Secretary John W. Snow made it loud and clear this week his department and the White House are against the renewal of the Terrorism Risk Insurance Act of 2002. Snow said the legislation, which expires in December, achieved its short-term goal of giving insurance companies and policyholders more time to adjust to the risk of terrorism following Sept. 11, 2001. Many groups oppose the decision and are pushing for a limited renewal of the legislation.

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