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PITTS’WORST VOTE #25: TERRORISM INSURANCE? DON’T NEED IT

PITTS’WORST VOTE #25:  TERRORISM INSURANCE?  DON’T NEED IT
 
Given Congressman Pitts’ usual concern for the interests of insurance companies, the Herr 2010 campaign researchers found it odd that he would disregard them on this issue.
 
Vote #25:  H.R. 2761, the Terrorism Risk Insurance Program Reauthorization Act of 2007
 
Insurance companies spread risk over all of their policyholders, to cover losses such as fires, crashes and lawsuits.  But what if the event in question is a catastrophic act of terrorism, such as the 9/11 attacks?  To protect insurance companies from bankruptcy in the wake of such an event, Congress passed the Terrorism Insurance Risk Program, which would kick in if losses exceeded a certain level.  In 2007, the program came up for reauthorization through 2014.  On December 18th, the House gave final passage to the bill, but
 
Pitts votes NO.
 
The vote was 360-53, with 144 of Congressman Pitts’ fellow Republicans supporting the bill.  President Bush signed the bill eight days later.  Perhaps the Congressman is convinced there’ll never be another 9/11.  We all hope he’s right, but insurance companies know not to count on it.
 
A week earlier, Mr. Pitts voted against an almost identical bill.  In other words, he was against it before he was against it.  More Bad Pitts Votes comin’ round the bend, one each day.

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