The Terrorism Insurance Act of Nov. 26, 2002. This helps businesses who must have insurance from being denied, which would kill those businesses. Our General Liability Insurance Numbers have jumped about $100-300 depending on the market area. But if you consider that there have been no terrorist attacks since 9-11 this is high. For instance you are 500 times more likely to incur hail damage in Colorado than you are to get car jacked by a terrorist if you are driving a fuel truck. The trucker would probably get out and fill you full of buckshot in 2 seconds anyway rendering the terrorist quite incapacitated and/or dead. And if he had been listening to any country singer on the radio at the time, he would probably keep reloading until he ran out of ammo for his 12 gauge. In CO, NE, SD, ND and WY insurance companies paid out over 2 billion in hail damage in 2002.

In my company our franchisees have general liability insurance to wash on properties even if it is just cars.

http://www.carwashguys.com

and also if we are steam cleaning concrete;

http://www.concretewashguys.com

so these are serious issues and since the insurance companies cannot deny insurance to any business for International or Domestic Terrorism you have to ask yourself something. Why are insurance companies spreading the risk to all business liability policies if those other businesses are at no risk? For instance, you can assume places like the Sears Towers in IL, Disney World in Orlando and Las Vegas Strip may be potentially viable high risk locations for possible increased costs, however a franchisee in North East Chattanooga, TN who washes cars should hardly have to pay that additional $300 per year? Reality does not warrant it at all. it is not right, it is not fair and our team and all small businesses are being penalized for no reason and in the middle of a slowly recovering economy too.

Small Business has taken a hit either way in insurance costs after 9-11. Insurance costs have gone up 30% in the last three years, some is due to excessive lawsuits and too many attorneys and a society which thinks it has the right to be irresponsible, yet 9-11 was a huge turning point and it has been going up ever sense, some say as much as 50% in certain sectors.

Lance Winslow

Lance Winsl