Harry Reid: “In the wake of September 11, a number of insurance companies are declining to provide coverage from losses which result…”

“In the wake of September 11, a number of insurance companies are declining to provide coverage from losses which result from terrorist attack. At 2:30 today, I had a meeting in my office with a large number of real estate people in desperate need to have their projects go forward. They are not able to obtain antiterrorism insurance. I know it is a serious problem. We continue to hear from the General Accounting Office and others that those insurance policies that are available are priced so high that they are really not affordable, even though they may be available. It is unfortunate that last year before adjournment we heard objections to our unanimous consent request to take up H.R. 3210, the House terrorism bill, and amend it with a substitute offered by the Senator from Connecticut, Mr. Dodd, and others. We believed that our effort to move forward was in good faith and addressed a present need.”