Marriott's Risk Management VP on Business Continuity and Insurance

Woods discusses 9/11's effect on Marriott and support for the Terrorism Risk Insurance Act


"Unfortunately, the policyholder community has not been individually vocal on these issues and often stood behind their associations," he said. Marriott, however, saw an opportunity to "lead the way."

Noting that the company's efforts contributed to the initial enactment of TRIA in 2002, Mr. Wood said they appear to be bearing fruit in the drive for a two-year extension of the act. "It appears right now that we're likely to have an extension of the act-at least we're hopeful of that," said Mr. Wood.

Policyholders in general, he said, "have gotten more engaged in the last six months," he said. "We've seen a real turn from...the summer of 2004, where this looked like it would be going nowhere again."