Menu

Terror

Business frets at terrorism tag of Boston Marathon attack

A declaration by President Barack Obama that the Boston Marathon bombings were an act of terrorism could make it difficult for many affected businesses to be reimbursed for losses.

Federal law enacted after the 9/11 terrorist attacks requires the government to certify whether an act of terrorism has occurred for businesses to determine liability for losses. If a business did not buy specific terrorism coverage an official designation could make it harder to get reimbursed.

The Boston Globe reports that many small businesses on Boylston Street did not buy terrorism coverage.

Most business losses resulted from closing Boylston Street as a crime scene, not from the fatal explosions on April 15. Proving a loss requires tallying receipts from a previous comparable period to demonstrate the cost of being shut by authorities.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.19% dw 4.26%  
15 Y Fixed Graph 3.23% dw 3.27%  
30 Y Fixed Jumbo Graph 4.68% up 4.59%  
5/1 ARM Graph 3.34% dw 3.45%  
5/1 Jumbo ARM Graph 3.85% up 3.54%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.38% dw 4.39%  
$50K HELOC Graph 4.11% -- 4.11%  
$30K Loan Graph 4.98% dw 4.99%  
$50K Loan Graph 4.40% -- 4.40%  
$75K Loan Graph 4.40% -- 4.40%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.90% dw 2.91%  
36 M Used Graph 3.40% dw 3.44%  
48 M New Graph 3.15% dw 3.19%  
48 M Used Graph 2.90% dw 2.97%  
60 M New Graph 3.16% dw 3.22%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% up 0.34%  
1 yr Graph 0.67% dw 0.67%  
5 yr Graph 1.38% -- 1.38%