Pete Sessions: “On September 11, 2001, the collective memories of Americans were altered forever. The terrorist attacks resulted in an…”

“On September 11, 2001, the collective memories of Americans were altered forever. The terrorist attacks resulted in an incalculable loss, both in loss of life and the destruction of buildings and businesses. While America has begun its recovery and is healing from last September, we must be mindful of the threat that continues to exist. Just yesterday, our intelligence officials indicated that terrorist groups may be planning a new wave of attacks against our homeland. Exposure to terrorism is not only a threat to our national security but is also a threat to the U.S. and the global economy. There is no doubt that these terrorist attacks have resulted in the most costly, catastrophic loss in the history of property and casualty insurance. However, the ripple effects of the attacks continues to last and will linger on. The shortage of terrorism insurance has left any number of our hospitals, stadiums, shopping malls, apartments, and office buildings either with astronomical rates for insurance or none at all.”