X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The Coalition to Insure Against Terrorism takes its plea for the passage of terrorism insurance straight to the US Senate and House of Representative conferees in a letter calling for legislators to set aside political differences. In the document, sent on Friday, CIAT members reiterate the billions of dollars that have been lost due to the absence of such legislation, and the billions more that will be lost in the event of another attack.

“If Congress and the Administration fail to reach compromise on terrorism insurance legislation it will represent a complete abdication of responsibility, and a failure of leadership,” CIAT points out in the correspondence. “Should political considerations prevail over the public interest, it will be viewed as an inexcusable violation of the public trust.”

Despite the fact that no such law has yet made it to the books more than a year after the events of Sept. 11, CIAT is still hopeful that legislators can come to an agreement before the year’s end. “Clearly the clock is ticking,” CIAT’s Jay Hyde tells GlobeSt.com. “But negotiators appear to have made great strides in the last couple of weeks. We are very optimistic.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.