President Bush has called for a bipartisan effort to ensure his terrorism bill passes through Congress later this month.
The White House is growing increasingly concerned about the effect of the delays on the US economy. Insurance firms have stopped covering construction works in the wake of September 11.
In his weekly radio address Bush said: "The situation has hurt the growth of this economy and cost Amercian jobs. The lack of terrorism insurance has delayed or canceled more than $15 billion in real-estate transactions."
The legislation would make the federal government a safety net for insurers in the event of terrorist attacks. Both houses have passed versions of the bill.
The House version requires insurers to pay for the first $1 billion in claims stemming from a terrorist attack. The Democrat-backed Senate bill requires insurers to pay for the first $10 billion out-of-pocket. The federal government would pay for 90 percent of any remaining claims.
