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Terrorism insurance backstop should be extended: PCI poll

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The federal government’s terrorism insurance backstop should be extended, according to results of a poll the Property Casualty Insurers Association of America released Wednesday.

The poll, conducted by Boise, Idaho-based GS Strategy Group, asked 1,000 voters a variety of questions about terrorism insurance in a mid-January poll. The federal terrorism insurance backstop, which initially was created by the Terrorism Risk Insurance Act of 2002, is slated to expire at the end of 2014.

The poll found that 67.6% of the respondents favored continuing the program, while 26.3% opposed extension. The rest had no opinion or refused to answer.

The poll also asked whether the federal government, insurance companies or a combination of both should bear responsibility to cover injuries to people and property damage arising from a terrorist attack. Almost three-quarters — 72.2% — said the responsibility should be shared, while 20.7% said the responsibility should be the government’s and the rest said insurers should bear the responsibility.