Departmental Offices; Interim Guidance Concerning Definition of Insurers, Scope of Insurance Coverage, and Disclosures Mandated by the Terrorism Risk Insurance Act of 2002

Zusammenfassung

This notice provides additional interim guidance concerning entities that are "insurers" as defined in Title I of the Terrorism Risk Insurance Act of 2002 and, therefore, are required to be participants in the Department of Treasury's Terrorism Risk Insurance Program. This notice also provides interim guidance concerning the scope of insurance coverage under the Program, including guidance to assist participating insurers in estimating their "insurer deductible," prior to the issuance of regulations, based on how they report their "direct earned premium" (or comparable format). Additional guidance concerning required disclosures under the Act is also provided by this notice.