Terrorism Insurance Return
- Topics:
- Terrorism Insurance
- Source:
- Penton Media
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Overview: With policy exclusions voided by law, finance executives face decisions about buying coverage for terrorist acts. The article explains about the Terrorism Risk Insurance Act of 2002 and the changes taken place due to implementation of the Act. The TRIA has brought prices down for companies that purchased stand-alone policies and the premiums for base policies covering property and liabilities are still rising, and that will continue. The TRIA requires that property and casualty insurers provide coverage for specified terrorism losses until the law expires at the end of 2004. Although the act is silent on the prices insurers may charge, it specifies that carriers must provide terrorism coverage on terms and rates that are not materially different from those applicable to other property and casualty lines. To get more details of the implementation, read the article.
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Format: HTML | Date: Mar 2003 | Pages: 6
