Statement from Real Estate Board of New York President Steven Spinola on U.S. Senate Vote to Extend Terrorism Risk Insurance Act

NEW YORK, NY – July 17, 2014 – "Today’s overwhelming 93-4 vote in the United States Senate to extend the Terrorism Risk Insurance Act is a testament to the stellar leadership of New York’s Senior Senator Charles Schumer. This action sends a clear message that protecting our nation and providing our industry with stability is of paramount importance.  The Senate’s actions bring us one step closer to ensuring that the public and private sectors are in position to provide shared compensation for insured losses, protect our economy, and allow for continued investment and job creation.  Members of the Real Estate Board of New York and countless others owe a debt of gratitude to both Senator Schumer and Senator Kirsten Gillibrand who never lost sight of this critical issue and its importance to New York City and the country.”

About The Real Estate Board of New York

The Real Estate Board of New York is the city’s leading real estate trade association with more than 15,000 members.  REBNY represents major commercial and residential property owners and builders, brokers and managers, banks, financial service companies, utilities, attorneys, architects, contractors and other individuals and institutions professionally interested in the city’s real estate.  REBNY is involved in crucial municipal matters including tax policy, city planning and zoning, rental conditions, land use policy, building codes and legislation.  In addition, REBNY publishes reports providing indicators of market prices for both the residential and commercial sectors. Please visit us online at

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