CIAT is concerned about the fact that terrorism insurance is either not available or is available at astronomical costs. "The purpose of the coalition is for making a case on Capitol Hill about the [property insurance-related] risks posed by possible covert attacks of terrorism," GlobeSt.com learns from Jay Harris, vice president of property management for the National Multi Housing Council and the National Apartment Association. Both associations are coalition members. "We're advocating federal involvement to help make sure that adequate coverage is available to firms. Specifically regarding apartments, some firms are perceived to be out of harms way -- such as those with property in rural locations -- and we want to assure that those firms are not required to buy terrorism insurance if they choose not to."
CIAT members are meeting individually with members of the Senate to make their case. Unlike the House of Representatives, the Senate failed to pass terrorism insurance legislation before recessing for the year. The group is also putting forth a press effort to spread the word. "God forbid it takes another terrorist attack to show the need for this legislation," Harris says.
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