Senate Approves Terrorism Risk Insurance Extension; Final Compromise Bill May Be Enacted by Year-End

Jeffrey D. DeBoer, president and CEO of The Real Estate Roundtable ( http:// www.rer.org ), issued the following statement regarding today's unanimous vote in the Senate to extend the Terrorism Risk Insurance Act (TRIA). WASHINGTON, Nov. 16...


Jeffrey D. DeBoer, president and CEO of The Real Estate Roundtable (http://www.rer.org), issued the following statement regarding today's unanimous vote in the Senate to extend the Terrorism Risk Insurance Act (TRIA).

WASHINGTON, Nov. 16 /PRNewswire-USNewswire/ -- The following was released today by Jeffrey D. DeBoer, president and CEO of The Real Estate Roundtable:

"Today's unanimous vote in the Senate to pass an extension of the Terrorism Risk Insurance Act (TRIA) is a solid assurance to American citizens and businesses that our economy will continue to be protected from the potentially severe economic repercussions of another terrorist attack. It is a victory for economic security, job preservation and the future health of our financial markets."

"The Senate's 7-year TRIA extension is also a victory for congressional bipartisanship, as Senate Banking Committee Chairman Christopher Dodd (D-CT) and Ranking Member Richard Shelby (R-AL) worked diligently to craft a solution before the current TRIA program expires on December 31 . We now look forward to working with policymakers in both the Senate and House to develop a final bill by year-end, including provisions which will ensure all parts of our nation have access to adequate terrorism insurance -- before and after any terrorist attack."

The Real Estate Roundtable (http://www.rer.org) brings together chief executives from top U.S. real estate entities and leaders of real estate industry trade associations to develop broad-based positions on big-picture policy issues relating to real estate and the national economy. Collectively, its members' portfolios contain over 5 billion square feet of office, retail and industrial properties valued at more than $700 billion; over 1.5 million apartment units; and in excess of 300,000 hotel rooms. Participating trade associations represent more than 1 million people involved in virtually every aspect of the real estate business.

SOURCE Real Estate Roundtable