Mandatory Terrorism Risk Insurance

[frazzledmom]

Think that's a joke? I found out today that it's not. I am self employed and have to carry business liability insurance. I got my annual bill and on the first page it shows this:

Terrorism Premium: $5.00
A. Disclosure of premium
In accordance with the federal Terrorism Risk Insurance Act, we are required to provide you with a notice disclosing the portion of your premium attributable to coverage for terrorist acts certified under that act.

Now I realize that this is only 5 bucks but I'm kinda pissed. The government is forcing me to pay for terrorism insurance? Nice little gift to the insurance companies. I wonder how much 5 bucks a person adds up to... Oh and my job is in no way in any danger of being um.. terrorized. This is bullshit.



-Walldude posting on my wife's account.

[madeline_con]

1. Proof they're planning another "attack" to get the fear factor up.n/t

[itsmesgd]

2. insurance did not pay after a freaking hurricane

imagine trying to get them to pony up after a bombing.

[rurallib]

3. Probably won't even get the $5 back.

[frazzledmom]

6. Yeah they mention that the government covered 90%

of any losses due to terrorism in 06'. In 07'it's down to 85%. I wonder if my premium will keep going up.

[zbdent]

8. Nice to know that Halliburton is getting their insurance payments

for their losses in Iraq ...

:sarcasm:

[madeline_con]

10. Are terrorist attacks "Acts of God", if God told them to blow

something up? :eyes:

[madeline_con]

11. overzealous button-pusher here...

the MSG posted twice.

[rumpel]

4. Yup, it has been around...

for various business sectors.

[shraby]

5. What happened to the clause in insurance

policies that say they won't be liable for acts of war, etc.?

[burythehatchet]

7. TRIA is a government backed program

that specifically addresses the war exclusion.

[WyLoochka]

9. You can decline the coverage

Just call your agent for the form you'll have to sign to have TRIA removed, if you can't find it in your policy packet.