Bush Gives Backstop Bill Another Push

Thursday, October 3rd, 2002 Catastrophe Property

President George W. Bush today again pressed Congress to agree on a terrorism insurance bill by tomorrow, saying that inaction is threatening American jobs. During a meeting with insurance, business and labor leaders at the White House, the president reiterated recent statistics that $15 billion worth of building projects are on hold due to a lack of terrorism insurance. Moreover, he said, the problem could get worse. "If there is an attack, without insurance, it would be even more devastating than the last attack," President Bush said. "It will mean tens of thousands of new jobs if we can get a terrorism insurance bill. It will mean billions in new investment. It will mean healthier pension and retirement systems.

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