Attacks Stoke U.S. Debate About Who Covers Losses From Terror Attacks

The bombings in London Thursday came in the middle of a debate in the United States about whether to extend a post September 11th federal program that provides a financial safety net for the insurance industry against devastating terror-related losses such as the Terrorism Risk Insurance Act of 2002 which provides 90 percent federal coverage of insured losses minus a deductible if a terrorist act on U.S. soil that is directed by foreign interests causes $5 million or more in total damage.