Statement of Senator Dodd on Senate Approval of Terrorism Risk Insurance

November 18, 2005
WASHINGTON - Senator Chris Dodd, author of the Terrorism Risk Insurance Act (TRIA) of 2002, issued the following statement after the Senate approved his legislation to extend TRIA after it expires at the end of 2005:

"This is a good product. It provides some basic protections that can help insulate and stabilize our economy in the event of a future terrorist threat. We all hope it will never be needed. But we need to plan ahead now to make sure this backstop is there if and when it is needed - it's that simple. By minimizing any damage to our economic foundation by those who would do us harm, we can better protect jobs and our nation. I would hope that we can quickly have this legislation signed into law."

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