Orange County NC Website
Browse       Search
POLICYHOLDER DISCLOSURE <br /> NOTICE OF TERRORISM <br /> INSURANCE COVERAGE <br /> Coverage for acts of terrorism is included in your policy You are hereby notified that an "act of terrorism", as defined in <br /> Section 102(1)of the Terrorism Risk Insurance Act,as amended(the"Act"),means any act that is certified by the Secretary of <br /> the Treasury—in concurrence with the Secretary of State, and the Attorney General of the United States—to be an act of <br /> terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage <br /> within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United <br /> States mission,and to have been committed by an individual or individuals as part of an effort to coerce the civilian population <br /> of the United States or to influence the policy or affect the conduct of the United States Government by coercion. Under your <br /> coverage, any losses resulting from certified acts of terrorism may be partially reimbursed by the United States Government <br /> under a formula established by the Terrorism Risk Insurance Act, as amended. However, your policy may contain other <br /> exclusions which might affect your coverage, such as an exclusion for nuclear events. Under the formula, the United States <br /> Government generally reimburses 85%of covered terrorism losses exceeding the statutorily established deductible paid by the <br /> insurance company providing the coverage. The Terrorism Risk Insurance Act, as amended, contains a$100 billion cap that <br /> limits U S Government reimbursement as well as insurers' liability for losses resulting from certified acts of terrorism when <br /> the amount of such losses exceeds$100 billion in any one calendar year If the aggregate insured losses for all insurers exceed <br /> $100 billion,your coverage may be reduced. <br /> The portion of your annual premium that is attributable to coverage for acts of terrorism is INCLUDED and does not include <br /> any charges for the portion of losses covered by the United States government under the Act. <br /> NOTICE TO BROKER <br /> MANDATORY POLICYHOLDER DISCLOSURE <br /> RE. TERRORISM INSURANCE COVERAGE <br /> We are required by the Terrorism Risk Insurance Act, as amended (the "Act"), to provide policyholders with clear and <br /> conspicuous disclosures. This notice must be provided at the time of offer,purchase and renewal of the policy <br /> We have provided you with a notice that meets the Act's requirements. You are instructed to deliver a copy of this notice to <br /> our insured. <br /> Includes copyrighted material 2007 National Association of Insurance Commissioners <br /> PURCH DISCL <br />