No Terror Insurance For Golden Gate
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Forget about insuring the Golden Gate Bridge against a terror attack. It´s just too expensive.
The district is in the process of renewing its insurance for the bridge and district buildings. While general insurance against quake and fire damage is affordable, insurance to cover a terror attack is not.
Joe Wire is the district´s auditor and controller. He says it would cost some $4 million a year to insure against a terrorist attack. The bridge currently is valued at more than $2 billion.
The bridge district – which also operates buses and ferries – is looking at a five-year budget deficit of more than $200 million.
