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BK Marina Construction Inc.
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(04-01-01) Sea Wall Replacement & Restoration
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BK Marina Construction Inc.
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Last modified
6/20/2012 8:59:44 AM
Creation date
1/6/2011 1:53:42 PM
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CityClerk-Bids_RFP_RFQ
Project Name
Sea Wall Replacement & Restoration
Bid No. (xx-xx-xx)
04-01-01
Project Type (Bid, RFP, RFQ)
Bid
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TERRORISM COVERAGE RIDER <br />NOTICE - DISCLOSURE OF TERRORISM COVERAGE AND PREMIUM <br />The Terrorism Risk Insurance Act of 2002 establishes a program within the Department <br />of the Treasury, under which the federal government shares, with the insurance industry, <br />the risk of loss from future terrorist attacks. The Act applies when the Secretary of the <br />Treasury certifies that an event meets the definition of an Act of Terrorism. The Act <br />provides that, to be certified, an Act of Terrorism must cause losses of at least five <br />million dollars and must have been committed by an individual or individuals acting on <br />behalf of any foreign person or foreign interest to coerce the government or population of <br />the United States. <br />To be attached to and form part of Bond No. N/A , effective 03/18/04 <br />In accordance with the Terrorism Risk Insurance Act of 2002, we are providing this <br />disclosure notice for bonds on which Great American Insurance Company, its affiliates <br />(including, but not limited to Great American Alliance Insurance Company, Great <br />American Insurance Company of New York and Great American Assurance Insurance <br />Company) is the surety. <br />The United States Government, Department of the Treasury, will pay a share of terrorism <br />losses insured under the terms of the Act. The federal share equals 90% of that portion of <br />the amount of such insured losses that exceeds the applicable insurer retention. <br />This Coverage Part/Policy covers certain losses caused by terrorism. In accordance with <br />the Federal Terrorism Risk Insurance Act of 2002, we are required to provide you with a <br />notice disclosing the portion of your premium, if any, attributable to the coverage arising <br />from losses for Terrorist Acts Certified under that Act. <br />The portion of your annual premium that is attributable to coverage for Terrorist Acts <br />Certified under the Act is: $:00. <br />
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