13

Terrorism Statutes and Indicators

STATUTES

Terrorism Risk Insurance Act of 2002

(P.L. 107-297 formerly H.R. 3210)

Because of the financial impact of the terrorist attacks of 9/11, many sought to provide a means to stabilize or even encourage investments throughout the country, particularly in large urban cities such as New York. The risk of loss from terrorism posed a huge disincentive for capital investment, particularly developers and businesses in areas deemed targets of terrorism. Indeed, the threat of terrorism posed such an uncertain risk that insurance companies were hard pressed to insure developers and businesses. If insurance coverage was not provided, why would a prudent investor or corporation risk capital that could be damaged ...

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