Bill Nelson: “we are coming down to the crunch time with the conclusion of this session. One of the issues to be decided this…”

“we are coming down to the crunch time with the conclusion of this session. One of the issues to be decided this afternoon is whether or not we are going to have any protection on terrorism insurance--not only for large and small businesses but also for homes and cars, and for personal lives. Since there are so many agendas going on with this topic, I urge, since this is the very last gasp, the Senate to come to an agreement for a fallback and a short period of time--say 6 months--and adopt legislation that would have the Federal Government assume the terrorism risk for that short period of time with a freeze on rates so the consumer is not paying the high rates now being jacked up; and a moratorium on the cancellations so the consumers, businesses, and individual home and car owners would have protection against a terrorist risk of loss. We can do that. That is a fallback position. The alternative is to do nothing. That is unconscionable. Rates are being jacked as we speak, and cancellations of terrorist coverage is now occurring in the 50 States.”