"Congress' inaction on terrorism is threatening our jobs," Bushremarked at a White House event yesterday that included unionworkers and business leaders. "They can move and need to help theeconomy. Because, you see, one recent survey shows that more than$15 billion in real estate transactions have been terminated or puton hold because the lack of terrorism insurance."

As Bush noted in his speech, the administration wants the finalbill to ban punitive damage awards in any possible terrorisminsurance lawsuits, but Democrats say property owners should beheld accountable to some degree.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.