Renewal of the insurance program against attacks

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The U.S. Congress has renewed the insurance plan covering terrorist attacks. This program was established after the 9/11 attacks and was voted, last January 8, by 93 votes against 4.
Photo credit: US Navy

It had previously been approved by the House of Representatives by 416 votes against 5.
Known as TRIA, (Terrorism Risk Insurance Act), the plan is covered by the federal government up to 80% of the claims exceeding the deductible level that shall gradually increase from the current 100 million USD to 200 million USD in 2016.
This insurance scheme shall remain valid until 2020, while the Treasury’s current commitment ratio will be cut from 85% down to 80%.

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Fri, 13/03/2015 - 09:39
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