The Department of the Treasury (Treasury) is issuing this
final rule as part of its implementation of amendments made by the
Terrorism Risk Insurance Program Reauthorization Act of 2007
(Reauthorization Act) to Title I of the Terrorism Risk Insurance Act of
2002 (TRIA, or Act), as previously amended by the Terrorism Risk
Insurance Extension Act of 2005 (Extension Act). The Act established a
temporary Terrorism Risk Insurance Program (Program) that was scheduled
to expire on December 31, 2005, under which the Federal Government
shared the risk of insured losses from certified acts of terrorism with
commercial property and casualty insurers. The Extension Act extended
the Program through December 31, 2007, and made other changes. The
Reauthorization Act extended the Program through December 31, 2014,
revised the definition of an ``act of terrorism,'' and made other
changes. This final rule contains regulations that Treasury is issuing
to implement certain aspects of the Reauthorization Act. In particular,
the rule addresses mandatory availability (``make available'') and
disclosure requirements. An interim final rule with request for
comments was published in the Federal Register on September 16, 2008,
and generally incorporated the substance of interim guidance previously
issued by Treasury and published in the Federal Register. Since no
comments were received regarding the interim final rule, this final
rule adopts the text of the interim final rule without revision.
Terrorism Risk Insurance Program; Terrorism Risk Insurance Program Reauthorization Act Implementation
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