On the recordDecember 12, 2001
What happens, the small businesses, in order to get bank loans, cannot get their insurance because they have a terrorist exclusion in the policy. So what we have done in the House, in a responsible manner, is we have said we will help facilitate a reinsurance fund with the large insurance companies, the Travelers, the Aetnas, the Cignas, the CNAs. What we say is, you provide the first $1 billion in a pool, and then we will set up a reinsurance fund, a buffer above that $1 billion. We will help underwrite it, but you reimburse the taxpayers. Of course, we have passed it, and one more time the United States' other body has not moved on it whatsoever. Again, this is about job creation. This is for small businesses.
Source
govinfo.gov
