Insurance Topics | Terrorism Risk Insurance Act | NAIC Terrorism Risk Insurance Act (TRIA) requires insurers to offer terrorism coverage after 9 11 attacks Learn about TRIA extensions, NAIC involvement, data collection, and more
POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE INSURANCE COVERAGE Coverage for acts of terrorism is included in your policy You are hereby notified that under the Terrorism Risk Insurance Act, as amended in 2015, the definition of act of terrorism has changed As defined in Section 102(1) of the Act: The term “act of terrorism” means any act or acts that are certified by the Secretary of the Treasury—in consultation with the
Terrorism Risk Insurance Terrorism Risk Insurance State insurance regulators have supported the Terrorism Risk Insurance Act (TRIA) since its inception and its subsequent reauthorizations
Materials - CIPR TRIA Workshop The NAIC recommends prompt Congressional action on a long-term TRIA reauthorization of 7-10 years to help ensure economic stability through the availability of terrorism coverage for commercial policyholders, lenders, builders, and the businesses that operate in urban centers and other areas prone to a terrorist attack
Commissioner Mais Testifies on Behalf of the NAIC at U. S. House . . . Commissioner Mais also highlighted the importance of TRIA in ensuring that insurers can provide affordable commercial terrorism coverage "TRIA is the best type of partnership between the private market and the government The government’s involvement, in this instance, creates the appetite for a private market to exist,” stated Mais
Terrorism Risk Insurance Act The NAIC is committed to working with Congress, the Administration, state officials, and the industry to develop a long-term plan to make terrorism insurance available and affordable
Terrorism Risk Insurance Data Call Beginning in 2016, insurance regulators in all states and the District of Columbia ("States") agreed to participate in a data call to collect information related to terrorism risk insurance to serve important regulatory objectives, such as monitoring the affordability and availability of insurance coverage for acts of terrorism and assessing insurers' financial exposure to terrorism risk
TO: - National Association of Insurance Commissioners One of the changes made to TRIA with the enactment of the Terrorism Risk Insurance Program Reauthorization Act of 2007 was a revision to the definition of an act of terrorism that eliminated the requirement that an individual or individuals that carry out an act of terrorism be acting on behalf of a foreign person or foreign interest
MODEL BULLETIN POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE . . . MODEL BULLETIN POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE MODEL BULLETIN POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE You are hereby notified that under the Terrorism Risk Insurance Act, as amended, you have a right to purchase insurance coverage for losses
NAIC Letter to FIO on TRIA Data Collection As you know, state insurance commissioners are moving forward with plans to collect data from U S insurers relative to their terrorism insurance exposure Industry solvency is one of the primary missions of state regulation, and a core consumer protection After all, insurers providing terrorism coverage for businesses big and small can be the same insurers offering homeowners and auto