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The Risk Management Society is lobbying for an extension in the federal government’s terrorism reinsurance program, according to Business Insurance. The program was originally enacted in 2002 and in 2007 it was extended until 2014. In a letter to the Federal Insurance Office, RIMS President Deborah Luthi says federally funded reinsurance is necessary because “the private sector alone is not able to sustain a competitive and healthy market for terrorism risk insurance.”

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