Implementing the Terrorism Risk Insurance Act of 2002
- Topics:
- Terrorism Insurance
- Tags:
- Benefits,
- Terrorism Risk Insurance Act,
- Terrorism,
- Payroll Solutions,
- National Council On Compensation Insurance Inc.,
- Human Resources,
- Homeland Security,
- Government,
- Corporate Insurance,
- Business Operations,
- ...
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Overview: The recent passage of the Terrorism Risk Insurance Act of 2002 generates new requirements for the workers compensation insurance industry. In this communication, NCCI describes background and details for new rules, procedures, and actions to be introduced in the weeks ahead. It is now well understood that the terrorist attacks of September 11 introduced unprecedented financial risk for the insurance industry. This is especially true of the workers compensation line because of its unique societal responsibility to provide protection to injured workers. Last year, in response to the terrorist attacks, NCCI focused on the issues of greatest significance to our customers and other stakeholders in the workers compensation insurance industry. The National Workers Compensation Reinsurance Pool Board of Governors has established a terrorism ad-hoc committee to review the Act and to ensure that the interests of the National Pool participants are addressed.
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Format: HTML | Date: Dec 2002 | Pages: 1
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