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

Disclaimer. The material provided on this site is for information purposes only and its availability to you does not establish an attorney-client relationship nor constitute legal advice. If you are interested in becoming a client of Hollander and Company LLC, please contact Jay Hollander, Esq. at jh@hollanderco.com.