Lubbock Secures Terrorism Insurance for the City - KCBD NewsChannel 11 Lubbock

1/9/03

Lubbock Secures Terrorism Insurance for the City

The threat of terrorism today is so real that Congress recently approved legislation which would enable cities all over to secure terrorism insurance. Right now, as it stands, hundreds, maybe even thousands of insurance carriers for cities require separate insurance for terrorism coverage. For Lubbock, that means spending more money.

Insurance companies are requiring separate coverage for terrorism insurance. The City of Lubbock wants that separate coverage -- and is willing to spend an extra $125,000 for it.

"We can assume the risk and have no coverage. I realize $125,000 is a lot of money out of an overall city budget of $350 million on an annual basis. And with more than $100 million in city assets, we felt like it was a prudent thing to do," said City Manager Bob Cass.

"I don't like it. I don't like the city spending my money," said one citizen.

"I'm not for it because we're not going to have terrorists here. We're country folks," said another who's not in favor of spending the extra money.

But others say that it's best to be prepared.

"Even if it's unlikely that we would have a terrorist strike, let me put it this way, it's unlikely I would have a wreck, but I have insurance," said one man.

"You can never be too sure on that. The money is probably coming from tax payers. I think it's money well spent," said another Lubbock man.

One man NewsChannel 11 talked to, who's retired from the United States Army, thinks Lubbock could be a target.

"We have a very large college here and I think it's a very large focus point," he said.

The reason? The federal government has appointed Texas Tech architects to measure and design an exact replica of the Statue of Liberty, in case terrorists destroy the national monument. Texas Tech experts are also helping to fight the war on bio-terrorism.

Regardless, the City of Lubbock is prepared. Cass says spending $125,000 annually on insurance, is better than spending millions to put a city back together.

So far, Ace USA, Lubbock International Airport's insurance carrier, is the only city insurance company requiring separate terrorism coverage. But the city is setting aside more money just in case other insurance companies require separate terrorism coverage.

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