Bankers End Up Plugging Terrorism Insurance Gap
Despite difficulty in obtaining terrorism insurance for high-rise buildings, real estate developers are continuing to secure bank financing for deals based in large part on a hope and a handshake, according to mortgage brokers.
The methods outlined by Scott A. Singer, executive vice president of Singer & Bassuk Organization in New York, generally involved a promise to seek insurance and a bet that Congress will eventually provide a federal guarantee to backstop terrorism insurance providers.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
