Terrorism Insurance Set to Expire for Strip Properties
Aug 25, 2014
1 min read
LAS VEGAS — Federal dollars that insure Las Vegas in the event of a terrorist attack could soon run out. Both Nevada U.S. senators say they’re working to renew federal terrorism insurance.
The Terrorism Risk Insurance Program Reauthorization Act allows the federal government to help pay for any damage caused to businesses after a terrorist attack. It is set to expire Dec. 31, 2014.
Lawmakers say this could impact the Strip’s ability to develop new Las Vegas resorts because their insurance premiums would skyrocket. They say developers won’t want to build without the backing of federal dollars.
Coming across this on https://pokiesappcash.com, I hadn't realized the Dec. 31 expiration was so close—it's strange to think that without federal backing, a single attack could make insurance for the Strip practically unaffordable. It makes me wonder if the private market would ever step up, or if future resort plans would just quietly stall while politicians argue.