Staff Contact: Jay Harris
URGENT MEMBER ACTION NEEDED
To Urge the U.S. Senate to Pass Terrorism Insurance Legislation Before Memorial Day
Please Call or Fax Your Senator Today
Using the accompanying sample letter, please call or fax a letter to your Senators today encouraging them to enact legislation that would help cover the costs of apartment owners' liability and property claims for damages arising from future terrorist acts. Assuring the availability of reasonably priced insurance for acts of terrorism for the rental apartment industry is a top AIMS priority for this Congress. The House passed its version of the legislation, the Terrorism Risk Protection Act (H.R. 3210), on November 29, 2001. The Senate is now considering comparable legislation. Federal assistance is needed to help address the possibility that residents and apartment firms alike may be paying substantially higher costs to protect against terrorism losses in the year ahead.
The prospect that insurance markets will no longer cover acts of terrorism threatens to worsen rising insurance costs - costs that already have been putting upward pressure on apartment rents and operating costs. A federal terrorism insurance backstop is needed to mitigate the property and liability insurance costs that are skyrocketing in the wake of September 11.
Our industry's message: Since September 11, rental property owners have been unable to renew their coverage against acts of terrorism or they have done so at an unreasonably high cost. A federal solution must adequately cover terrorist acts for a long enough duration to reduce the costs of insuring against terrorism. Please write your Senators today with this simple message urging them to pass a bill before the Memorial Day recess. Thank you for your prompt attention to this important matter.
1. Please make your call or fax your letter today. Contact information for all Members of Congress is available in the NMHC/NAA Congressional Directory and in the "Elected Officials" section of the NMHC/NAA Online Legislative Action Center at http://capwiz.com/nmhc/home/. Then, please distribute this fax as widely as possible within your company and to other members of the rental housing industry. Send to both Senators in your state as well as to Senators in states where you do business.
2. For easier preparation of your letter, the text of this AIMS Alert is available via the NMHC Web by clicking here. Please send the letter on your business letterhead and include any specific anecdotes about your own insurance experience this year.
3. Please fax (202/775-0112) or e-mail email@example.com an extra copy of your letters along with any feedback or written response to Amanda Joseph, AIMS Administrator, National Multi Housing Council, 1850 M Street, NW, Suite 540, Washington, DC 20036.