If the country’s terrorism insurance program were allowed to expire, coverage would become largely unavailable and the gears of commercial real estate would grind to a halt, warns the NATIONAL ASSOCIATION OF REALTORS® and the Coalition to Insure Against Terrorism.

“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, one of Cleveland’s largest commercial real estate firms.

Ditchman testified at a U.S. House Subcommittee hearing on behalf of NAR and the Coalition to Insure Against Terrorism, which represents a wide range of businesses and organizations in the transportation, real estate, manufacturing, construction, entertainment and retail sectors. Read more

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