Reso 2004-657 - Laserfiche WebLink

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TERRORISM COVERAGE RIDER .,;,: NOTICE-DISCLOSURE OF TERRORISM COVERAGE AND PREMIUM The Terrorism Risk Insurance Act of 2002 establishes a program within the Department of the Treasury, under which the federal government shares, with the insurance industry, the risk of loss from future terrorist attacks. The Act applies when the Secretary of the Treasury certifies that an event meets the definition of an Act of Terrorism. The Act provides that, to be certified, an Act of Terrorism must cause losses of at least five million dollars and must have been committed by an individual or individuals acting on behalf of any foreign person or foreign interest to coerce thegovernrnent or population of the United States. To be attached to and form part of Bond No. N/ A ,effective 03/18/04 In accordance with the Terrorism Risk Insurance Act of2002, we are providing this disclosure notice for bonds on which Great American Insurance Company, its affiliates (including,. but not limited to Great American Alliance Insurance Company, Great American Insurance Company of New York and Great American Assurance Insurance Company) is the surety. The United States Government, Department of the Treasury, will pay a share of terrorism losses insured under the terms of the Act. The federal share equals 90% of that portion of the amount of such insured losses that exceeds the applicable insurer retention. This Coverage Part/Policy covers certain losses caused by terrorism. In accordance with the Federal Terrorism Risk Insurance Act of2002, we are required to provide you with a notice disclosing the portion of your premium, if any. attributable to the coverage arising from losses for Terrorist Acts Certified under that Act. The portion of your annual premium that is attributable to coverage for Terrorist Acts Certified under the Act is : $:00. SI8