The federal government must continue to provide help to companies that offer terrorism insurance, Mayor Bloomberg said yesterday.
Testifying before a congressional field hearing at City Hall, Bloomberg said a failure to renew the Terrorism Risk Insurance Act of 2002 could jeopardize construction projects.
“Without a doubt, the federal government’s terrorism-insurance program has been a critical part of New York City’s revival,” the mayor said.
The legislation, which would aid insurers in the event of another terrorist attack, is to expire on Dec. 31. The Freedom Tower would not be affected, since it is already insured.