GlobeSt.com: Can you quantify the risk to the CMBS market specifically?
Carlson: It's hard to say since it depends on so many things. Because there doesn't seem to be a way for insurance companies to completely price the risk of a terrorist attack, the impact on CMBS would depend on how many insurers would continue to offer terrorism insurance without some sort of backstop and what rates end up being charged for the coverage. The fewer insurers who offer the coverage, the higher the price and the greater the impact on CMBS.
GlobeSt.com: Can't you project based on what we saw prior to TRIA's passage three years ago?
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
