U.S. Congress Adjourned In 2014 Without Reauthorizing the Terrorism Risk Insurance Act (TRIA)

That means, until Congress takes further action to reauthorize a federal terrorism program, most terrorism loss coverage offerings for U.S. policyholders either disappeared or become voluntary as of Jan. 1, 2015. As a result, some U.S. policyholders will be required to secure coverage for loss caused by acts of terrorism regardless of TRIA. The likelihood of terrorism loss exclusions and coverage limitations in policies may create the need for alternative means of terrorism loss coverage.

UIG’s Standalone Terrorism team is able to provide a viable solution to address your client’s terrorism coverage needs.

Here’s what you can expect:

  • Limits up to $100,000,000
  • Coverage for a period of up to 24 months (or 48 months for construction policies)
  • Standalone Terrorism covers acts committed for political, religious or ideological purposes and includes: Sabotage, Broader Bespoke coverage and low deductibles.

The coverage UIG is able to offer is broader than what has traditionally been provided by TRIA and will continue regardless of any further congressional decisions that may follow.

To find out more about what UIG can do for you, drop us a line at info@uigusa.com. Also feel free to connect with us on LinkedIn and join our Young Agent’s Group.