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This Letter Is Written in Response to Your Request for an Interpretation Concerning the Application

By Bragg, Jeffrey S.

Description
Government Reference Publication

Excerpt
Excerpt: Under the Act, the Federal Government shares in 90 percent of an insurer?s ?insured losses? above the insurer?s annual deductible, subject to an industry-aggregate limit of $100 billion. ?Insured loss? is defined in the Act as any loss resulting from an ?act of terrorism? (including an act of war, in the case of workers? compensation) that is covered by primary or excess property and casualty insurance issued by an insurer if such loss occurs at the locations identified in the Act. The Act?s definition of ?insured loss? does not exclude losses from nuclear, biological, or chemical perils. Similarly, the Act?s definition of ?act of terrorism? does not preclude the Secretary from certifying terrorist acts involving nuclear reaction or radiological, biological, or chemical release, and/or contamination.

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Book Id: WPLBN0000686749
Format Type: PDF eBook
File Size: 21.19 KB.
Reproduction Date: 2005
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Title: This Letter Is Written in Response to Your Request for an Interpretation Concerning the Application  
Author: Bragg, Jeffrey S.
Volume:
Language: English
Subject: Government publications, Economics., United States. Department of the Treasury--Appropriations and Expenditures.
Collection: U.S. Department of the Treasury Collection
Subcollection:
Historic
Publication Date:
Publisher: United States Department of the Treasury
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