3.5. SR 07-21-2008 - Laserfiche WebLink

Home Browse Search

~~ Midwestern Risk Specialists. Inc. Casualty Divisi on -Suite 2100 300 South Riverside Plaza Chicago, IL 60 6 0 6-86 13 312.876.3915 Fax POLICYHOLDER DISCLOSURE STATEMENT UNDER TERRORISM RISK INSURANCE ACT OF 2002 Line of Business: Law Enforcement Professional Liability Named Insured: The Minneapolis St. Paut 2008 Host Committee Inc; The City of St. Paul; The RNC; The COA; and any entity/:municipality that enters into a JPA. You are hereby notified that under the federal Terrorism Risk Insurance Act of 2002 (the "Act") effective November 26, 2002, you now have a right to purchase insurance coverage for losses arising out of an Act of Terrorism, which is defined in the Act as an act certified by the Secretary of the Treasury (i) to be an act of terrorism, (ii) to be a violent act or an act that is dangerous to (A) human life; (B) property or (C) infrastructure, .(iii) to have resulted in damage within the United States,. or outside of the United States in case of an air carrier or vessel or the premises of a U.S. mission and (iv) to have been committed by an individual or individuals acting on behalf of any foreign person or foreign interest, as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. You should read the Act for a complete description of its coverage. The Secretary's decision to certify or not to certify an event as an Act of Terrorism and thus covered by this law is final and not subject to review. There is a $100 billion dollar annual cap on all losses resulting from Acts of Terrorism above which no coverage will be provided under this policy and under the Act unless Congress makes some other determination. For your information, coverage provided by this policy for losses caused by an Act of Terrorism may be partially reimbursed by the United States under a formula established by the Act. Under this formula the United States pays 90% of terrorism losses covered by this law exceeding a statutorily established deductible that must be met by the insurer, and which deductible is based on a percentage of the insurer's direct earned premiums for the year preceeding the Act of Terrorism. Coverage for Acts of Terrorism is included in your Quoted Premium. The portion of your Quoted premium that is attributable to the coverage for Acts of Terrorism is is 550,000. AMerrber of Americanlrxernational Group, Inc.