Newsline

BOMA Pushes For Terrorism Insurance

WASHINGTON, DC — Building Owners and Managers Association (BOMA) International president Sherwood Johnston III met recently with President George W. Bush and other business leaders to discuss the federal government’s role in addressing the unavailability of terrorism insurance coverage, which has been virtually impossible to obtain since the Sept. 11 terrorist attacks.

“Every day, property owners are having serious problems buying terrorism insurance,” said Johnston. “Even in cases where it is available, it more often than not has a high deductible, a 30-day cancellation clause, caps on coverage, or an astronomically high price tag.”

“While we’re doing everything we can to stop terrorist attacks, the economy must be prepared to handle an attack if it does occur,” said Bush. “But I can’t predict with 100% accuracy whether or not another attack won’t occur. And, therefore, we better find terrorism insurance because, without it, it would be a catastrophic problem if there is another attack. It would make it really hard for our economy to recover a second time if there’s an attack without adequate terrorism insurance.”

Last year, the House passed legislation to use the federal government to back insurance companies in the event of another major terrorist attack, but the Senate has thus far failed to follow suit.

For more information, visit www.boma.org (website).

Publication date: 05/06/2002

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

Recent Articles by James Siegel

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2015 HARDI Fly-In

Highlights from HARDI's Congressional Fly-In in Washington, D.C.

Podcasts

NEWSMakers: Clint Schreck

Clint Schreck, general manager, Columbus Worthington Air, Columbus, Ohio, discusses winning Angie’s List Super Service Award, how to handle online reviews, and much more.

More Podcasts

ACHRNEWS

NEWS 05-25-15 cover

2015 May 25

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

HYDROCARBON REFRIGERANTS

The EPA has approved several hydrocarbon (HC) refrigerants for HVACR applications. Do you support the use of HCs?
View Results Poll Archive

HVACR INDUSTRY STORE

2015.jpg
2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con