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After Terrorism, Construction Insurance Is Costly

Posted by: Chris Steins
Thanks to: ArchNewsNow.com
11 April 2002 - 9:00am

"If people cannot buy insurance on a construction project, they're not going to build the project," says President Bush.

"According to insurance industry leaders, 70 percent of properties have lost their re-insurance policies since Jan. 1. Coverage for new non-residential construction projects is down 17 percent since this time last year... To lend a little relief, President Bush is urging Congress to step in to create a safety net in which insurers won’t be left holding the bag if another terrorist attack causes catastrophic damage to U.S. properties again."

Full Story: Bush: Congress Must Pass Insurance Relief
Source: FOX News, April 9, 2002
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