After Terrorism, Construction Insurance Is Costly

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

1 minute read

April 11, 2002, 9:00 AM PDT

By Chris Steins @planetizen


"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."

Thanks to ArchNewsNow.com

Tuesday, April 9, 2002 in FOX News

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