HM 1101 Summary

• Urges Congress to extend the Terrorism Risk Insurance Act of 2002 before its December 31, 2014 expiration date.

• Establishes that without extension, insurers will be unable to offer widespread terrorism coverage and capacity concerns will arise for required coverage.

• States that lack of terrorism insurance could prevent banks from extending loans for mortgages, construction projects, and capital-intensive initiatives.

• Argues that without private terrorism insurance, the Federal Government may be required to cover losses from terrorist attacks instead of maintaining shared public-private responsibility.

• Directs distribution of memorial copies to the President, President of the Senate, Speaker of the House, and all members of the Florida Congressional delegation.