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Livingston Calls Terrorism Insurance Warning a Marketing Play

ORLANDO-The founder/chairman of Realvest Partners Inc., Maitland, FL doesn't think carriers will stop writing policies but the premiums could be stiff.

By Alex Finkelstein | Updated on November 28, 2001

ORLANDO-Despite a warning that they will stop writing terrorism insurance coverage by Dec. 31 on most new developments, the nation’s major carriers will continue offering policies but the premiums could be stiff, Realvest Partners Inc. founder/chairman George D. Livingston tells GlobeSt.com .

Rate increases of “50% to 100% is the number I have heard,” the developer says. An unverified industry report has some premiums increasing by 1000%.

Refusing to write terrorism coverage could delay some real estate deals but “I doubt it,” Livingston says. “Insurance will be written and deals will be done.”

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