Real Estate Execs Rate Lack Of Terror Cover
By Daniel Hays
NU Online News Service, March 8, 9:35 a.m. EST?A quick survey of a group of New York real estate executives has found the dearth of available terrorism coverage has had a "significant" or "high impact" on their business activity.
The findings were supplied by KPMG, which did an instant poll of 80 commercial real estate executives on March 4.
Those polled were attending a panel, which the accounting and tax firm managed at the Commercial Property News' 14th annual Commercial Property World conference.
The executives, many of whom are involved in managing Real Estate Investment Trusts, were asked, "Given the current unavailability of terrorism coverage, what impact has this had on existing and future projects?
Among those responding, the breakdown on the degree of effect was as follows: 10.5 percent said it was significant, 23.7 percent said it was high, 28.9 percent moderate and 21.1 percent little.
Some 15.8 percent said they had experienced no impact at all.
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