Alternate Title: P.L. 107-297: Terrorism Risk Insurance Act of 2002
"An Act to ensure the continued financial capacity of insurers to provide coverage for risks from terrorism." The 107th Congress enacted the Terrorism Insurance Act of 2002 to establish a temporary Federal program that provides for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism, in order to protect consumers by addressing market disruptions and ensure the continued widespread availability and affordability of property and casualty insurance for terrorism risk; and to allow for a transitional period for the private markets to stabilize, resume pricing of such insurance, and build capacity to absorb any future losses, while preserving State insurance regulation and consumer protections.
Public Law 107-297; P.L. 107-297
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