Business Services Industry
Economy will suffer if Congress lets TRIA lapse: Buyer; Terrorism backstop not a 'bailout' but vital to development.(News)(Terrorism Risk Insurance Act)
Business Insurance, November, 2006 by Hofmann, Mark A.
Byline: MARK A. HOFMANN WASHINGTON-Allowing the public/private partnership that currently guarantees terrorism insurance to lapse would have severe economic consequences, according to a prominent policyholder representative. "Without terrorism coverage, transactions would be smothered,'' said Jeffrey D.
DeBoer, president and chief executive officer of the Washington-based Real Estate Roundtable, during a discussion of the future of the federal terrorism insurance backstop earlier this month in Washington. The discussion came during a seminar on insuring catastrophic risks sponsored by Washington law firm Wiley Rein & Fielding L.L.P. and the University of Connecticut School of Law. Without the backstop provided by the Terrorism Risk Insurance Extension Act...
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