Association Chairman James M. Murphy explains, "withoutterrorism insurance coverage, commercial lenders will be forced toeither delay or prevent real estate projects from going forward.That could include everything from financing, buying or selling ashopping center to constructing a new office or apartmentbuilding." Already, many insurance brokers in major metropolitanareas are excluding terrorism coverage from future policies. MBAurges legislators to devise a program that would include a federalreinsurance backstop, and a cap on total losses for the private andpublic sectors.
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