City Buys Terrorism Insurance

1 decade 3 months 3 weeks ago December 31, 2006 Dec 31, 2006 Sunday, December 31 2006 Sunday, December 31, 2006 2:41:59 PM CST in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
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CAPE GIRARDEAU (AP) - Cape Girardeau County government buildings will be insured against a terrorist attack in 2007, ensuring that taxpayers won't be stuck with the cost of rebuilding. Commissioners from the southeast Missouri county approved the policy addition late last week. They say the likelihood of a terrorist attack against the county is small. But the protection is worth the two-thousand-dollar price. Overall, the county will pay $98 thousand for coverage to protect taxpayers' $21 million investment in buildings from damages caused by earthquakes, tornadoes, fire and other threats. Ever since the September 11, 2001, terrorist attacks, the federal government has required insurance companies to offer the terrorism insurance. A loss under the terrorism policy would have to be certified as a true terrorist act.

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