Insurance Journal offers this quote of the day:
“The potential unavailability of terrorism risk insurance at the end of this year impacts our financing agreements and potentially hurts the commercial real estate market,” said Joseph Ditchman, former president of the Ohio Association of Realtors and a partner at Colliers Ostendorf-Morris, a Cleveland commercial real estate firm.
According to IJ, the comment was made as the real estate industry was before a Congressional subcommittee meeting testifying in support of not only renewing TRIA, but also extending it over the long term.