U.S. Congress - H.R.4721 Terrorism Risk Insurance Improvement Act of 2007
H.R.4721 - Terrorism Risk Insurance Improvement Act of 2007
To amend the Terrorism Risk Insurance Act of 2002 to temporarily reduce the insurer deductibles for insurers sustaining insured losses from large terrorism events. view all titles (2)
All Bill Titles
- Short: Terrorism Risk Insurance Improvement Act of 2007 as introduced.
- Official: To amend the Terrorism Risk Insurance Act of 2002 to temporarily reduce the insurer deductibles for insurers sustaining insured losses from large terrorism events. as introduced.
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Official Summary
12/17/2007--Introduced.Terrorism Risk Insurance Improvement Act of 2007 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of "insurer deductible" with respect to a situation where aggregate industry insured losses resulting from a certified act of terroriOfficial Summary
12/17/2007--Introduced.Terrorism Risk Insurance Improvement Act of 2007 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of "insurer deductible" with respect to a situation where aggregate industry insured losses resulting from a certified act of terrorism exceed $1 billion for an insurer that sustains any of such losses. Sets forth a calculation for the value of such an insurer's direct earned premiums over the calendar year immediately preceding the program year.
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