Jay Hollander's Weblog

Welcome to the Real Estate Law weblog. Here you'll find items pertaining to real estate from a lawyer's perspective.

Mon Jun 26, 2006

Everybody into the Pool!

When it comes to Terrorism Insurance, the government's days as a reinsurer of last resort are numbered, ending in 2007 following one extension of a temporary act intended to restore confidence among the Nation's insurers and reinsurers following the huge losses suffered as a result of the 9/11 attacks.

A lobbying group called the Real Estate Roundtable, http://www.rer.org/, recently proposed modeling a future system after that created in Europe, where insurers pay into a pool in exchange for a goverment promise to cover losses after the pool is exhausted.

You can read more about the plan at the lobbying group's website, http://www.rer.org/roundtable/currentissue/index.cfm

Posted by: Jay Hollander
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Tue Sep 27, 2005

New Legislation Introduced to Combat Kelo Decision

Late last year, the U.S. Supreme Court decided the Kelo v. City of New London case, essentially holding that the power of eminent domain could be used to facilitate private economic development rather than public use ( http://tinyurl.com/c6dpu), causing a widespread backlash by the public, commentators and legislators from around the country alike.

Since then, there have been legislative efforts to retard the effectiveness of the Decision. Most recently, a Florida Democrat, Bill Nelson, and a Texas Republican, John Cornyn, have introduced legislation to do what the federal government can in the area.
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Posted by: Jay Hollander
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