Insurance Bill Protects Commercial Real Estate
SOURCE: PR Newswire
Yesterday Congress voted to reauthorize the federal government's terrorism risk insurance program, giving realtors and brokers a bit of good news in an otherwise challenged market.
H.R. 2761 extends for 15 years the the terrorism insurance program
that was initiated after the September 11, 2001, terrorist attacks; make
available coverage for nuclear, biological, chemical or radiological (NBCR)
attacks; require the Treasury Department to report on the terrorism
insurance market every two years, including an analysis of terrorism
insurance pricing impacts on commercial real estate; and establish a blue
ribbon commission tasked with recommending a long-term private market
solution.
Read full report »
Yesterday Congress voted to reauthorize the federal government's terrorism risk insurance program, giving realtors and brokers a bit of good news in an otherwise challenged market.
H.R. 2761 extends for 15 years the the terrorism insurance program
that was initiated after the September 11, 2001, terrorist attacks; make
available coverage for nuclear, biological, chemical or radiological (NBCR)
attacks; require the Treasury Department to report on the terrorism
insurance market every two years, including an analysis of terrorism
insurance pricing impacts on commercial real estate; and establish a blue
ribbon commission tasked with recommending a long-term private market
solution.
Read full report »
