Coalition Turns to Advertising for Terrorism Insurance Legislation

WASHINGTON, DC-The Coalition to Insure Against Terrorism has turned to advertising in its latest effort to urge members of the US Senate and House of Representatives to pass terrorism insurance legislation immediately. The organization--consisting of representatives from the real estate, construction, hotel, manufacturing, retail, and transportation industries--is running an ad in the CQ Daily Monitor and CongressDaily, publications that are practically bibles on Capitol Hill. "For more than a year, our economy has been harmed by a lack of comprehensive, affordable terrorism risk insurance coverage," the ad reads. "For more than a year, our nation's leaders have been warning that terrorists continue to target America and are likely to strike again at our economic security. For more than a year, lawmakers have worked to craft legislation creating a short-term, federal backstop to stimulate the economy and create jobs. The answer is before you. Now is the time to act."

But recent news from some realtors in the DC area may stall passage even further. Real estate investment-banking firm John B. Levy Co. Inc. just reported that it easily secured $60 million in terrorism insurance for a property near the IRS building.