As Senate Debates Terrorism Insurance, Mortgage Bankers Urge Senate To Pass S. 2600
|As Senate Debates Terrorism Insurance, Mortgage Bankers Urge Senate To Pass S. 2600|
|Source:||Mortgage Bankers Association
|Date:||June 13, 2002|
Washington, D.C. (June 13, 2002) – The Mortgage Bankers Association of America (MBA) called upon the Senate to pass the Terrorism Risk Insurance Act of 2002, S. 2600.
"The Senate now has the opportunity to make one thing certain in this time of uncertainty - the assurance that a federal reinsurance backstop will be in place to help sustain economic growth and help protect the economy in the event of another terrorist attack," said James M. Murphy, MBA chairman. "We strongly urge the Senate to immediately pass the Terrorism Risk Insurance bill."
The risks associated with the inability to obtain adequate and affordable property and casualty insurance has threatened to undermine the well-being of the country’s economy. Some examples of how the real estate finance industry has been impacted by this lack of insurance include the following:
MBA supports a terrorism insurance bill that will:
|Copyright © 2002 Mortgage Bankers Association
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