GVHR » Topics » TERRORISM RISK INSURANCE EXTENSION ACT OF 2005

These excerpts taken from the GVHR 10-K filed Mar 16, 2009.

TERRORISM RISK INSURANCE EXTENSION ACT OF 2005

 

You are hereby notified that under the federal Terrorism Risk Insurance Act of 2002 (the “Act”) effective November 26, 2002, and its amendment, the Terrorism Risk Insurance Extension Act of 2005 (jointly referred to as the “Act”), you now have a right to purchase insurance coverage for General Liability 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(ies) 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 preceding the Act of Terrorism.

 

Please indicate your selection below.

 

oCoverage for acts of Terrorism under your General Liability policy(ies) may be purchased for an annual premium amount of $«underwriter enters premium». I hereby reject coverage and accept the Terrorism Exclusion on my policy(ies) in accordance with the Act.

 

Please contact your broker with any questions.

 

 

 

Signature of Insured

 

 

 

 

 

Print Name/Title

 

 

 

Date

 

«Underwriter/Account Manager»

 

 

 

cc:

Broker

 

 

49



 

TERRORISM
RISK INSURANCE EXTENSION ACT OF 2005



 



You
are hereby notified that under the federal Terrorism Risk Insurance Act of 2002
(the “Act”) effective November 26, 2002, and its amendment, the Terrorism
Risk Insurance Extension Act of 2005 (jointly referred to as the “Act”), you
now have a right to purchase insurance coverage for General Liability 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(ies) 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
preceding the Act of Terrorism.



 



Please indicate your
selection below.



 



oCoverage
for acts of Terrorism under your General Liability policy(ies) may be purchased
for an annual premium amount of $«underwriter
enters premium
». I hereby reject coverage and accept the Terrorism
Exclusion on my policy(ies) in accordance with the Act.



 



Please contact your
broker with any questions.



 



















































 



 



Signature of Insured



 



 



 



 



 



Print Name/Title



 



 



 



Date



 



«Underwriter/Account
Manager»



 



 



 



cc:



Broker



 




 



49
















 



TERRORISM
RISK INSURANCE EXTENSION ACT OF 2005



 



You
are hereby notified that under the federal Terrorism Risk Insurance Act of 2002
(the “Act”) effective November 26, 2002, and its amendment, the Terrorism
Risk Insurance Extension Act of 2005 (jointly referred to as the “Act”), you
now have a right to purchase insurance coverage for General Liability 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(ies) 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
preceding the Act of Terrorism.



 



Please indicate your
selection below.



 



oCoverage
for acts of Terrorism under your General Liability policy(ies) may be purchased
for an annual premium amount of $«underwriter
enters premium
». I hereby reject coverage and accept the Terrorism
Exclusion on my policy(ies) in accordance with the Act.



 



Please contact your
broker with any questions.



 



















































 



 



Signature of Insured



 



 



 



 



 



Print Name/Title



 



 



 



Date



 



«Underwriter/Account
Manager»



 



 



 



cc:



Broker



 




 



49
















 



EXCERPTS ON THIS PAGE:

10-K (3 sections)
Mar 16, 2009
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