Mall of America Insured Against Terrorism

Simon Property Group (Indianapolis) has purchased two standalone policies of terrorism insurance, each with $100 million aggregate limits.

The first policy will insure Mall of America (Bloomington, Minn.) against damage incurred from acts of terrorism. The second policy will insure the remainder of Simon's shopping center portfolio against similar perils.

“It was extremely important that we secure coverage that would provide protection for our properties but not impose an unreasonable burden on our malls'tenants, many of whom are small business owners,” said ceo David Simon.

Simon Property Group currently owns, operates, manages or has an interest in 251 properties containing an aggregate of 187 million square feet in 36 states, plus assets in Europe and Canada. Mall of America is the largest, but the company also owns and operates Aventura Mall (Miami), Lenox Square Mall and Phipps Plaza (Atlanta), Roosevelt Field (Garden City, N.Y.), Town Center (Boca Raton, Fla.) and Forum Shops (Las Vegas), among many others.