NEW YORK (AP) — Planners of the Democratic and Republican national conventions are buying insurance coverage in case of a disruption such as a terrorist attack.
Boston 2004, the host committee for the Democratic National Convention, recently bought a general liability policy worth $100 million, said committee President David Passafaro.
“We have spent $2.3 million on all insurance, and I would tell you that I don’t think we’re quite done yet,” he said, adding that the committee probably will buy another $100,000 worth of insurance before the convention begins July 26.
Mr. Passafaro added that the committee has paid an $86,000 premium to purchase terrorism insurance and, in an unusual move for a political convention, Boston 2004 paid a $125,000 premium to buy event-cancellation protection. The committee originally budgeted $3.9 million for insurance during the convention.
“Unfortunately, this is the world we now have to live in post-9/11,” he said.
Paul Elliott, press secretary for the NYC Host Committee for the Republican National Convention, said the organization doesn’t speak publicly on the scope or type of insurance coverage it has bought. But he said the committee did “cover our own insurance,” which would fall under the host committee’s $64 million convention budget.
Homeland Security Secretary Tom Ridge’s warning Thursday of a potential al Qaeda terrorist attack disrupting high-profile events such as the conventions highlighted the importance of insurance in uncertain times.
Businesses, hotels and office buildings surrounding the convention centers in Boston and New York have taken heed.
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