On December 20, 2019 President Donald J. Trump signed into law the Terrorism Risk Insurance Program Reauthorization Act of 2019. The NAIC Terrorism Insurance Implementation Working Group recently issued bulletins related to this matter. his Reauthorization Act of 2019 changes the Terrorism risk Insurance Program as follows:
Will Your Rules, Forms and Policyholder Notices be Compliant?
Affected Commercial lines of business may require updates that must be in place prior to the end of 2020 including the following:
Whether you need help drafting updated endorsements and notices, revising your rules or submitting required filings, the experts at Perr&Knight can help you prepare to be compliant with required changes. Contact Us Today.