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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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
12/17/07
 
 
 
 
 
 
 

Official Summary

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 insu

Official Summary

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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